Megaupload 2.0 (MU2) is being built as a successor to the original Megaupload, pairing a new Bitcache system that attaches a tiny bitcoin transaction to every file transfer with outsourced storage through partners such as Maidsafe and Storj. The service will cache popular files on its own high-speed RAM servers while relying on third-party providers for long-term storage, adding encryption both at upload and through Bitcache’s pay-per-download container. MU2 intends to give content creators revenue opportunities via these micro-payments and will manually review takedown requests instead of providing direct deletion access to rightsholders. Although Kim Dotcom is not formally part of the corporate structure, he serves as the venture’s chief evangelist and drives public interest. The company aims to unveil fuller technical details on January 20, the fifth anniversary of the original site’s takedown, though a full launch on that date is unlikely. More than 354 former users and supporters have already invested, giving MU2 a pre-launch valuation above $50 million. To date, it has secured over $1 million in funding to advance development and legal structuring.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

Oct 2016