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Dotcom plans Mega IPO as case grinds on
Updated: Kim can sue government, spies to own up
As a New Zealand court takes evidence so secret even Kim Dotcom's lawyers are barred from attending, the Megaupload founder has taken to Twitter to tout plans to take his latest venture public.
As Bloomberg reports, the company's apparent IPO plans first emerged via a job ad for a CFO. The ad, posted at New Zealand's TradeMe and Seek sites, doesn't mention Mega – that was left to Dotcom himself, who pointed to the positions in a Tweet.
Dotcom claimed in a separate Twitter posting that the IPO might create “a billion dollar company”, but the CFO hunt is more modest seeking someone with experience in companies in the five-to-fifty million dollar range.
News outlets such as National Business Review in New Zealand and AAP say the company could dual-list in Australia and New Zealand, since the job ad seeks someone familiar with raising capital in both countries.
Mega's CEO Vikram Kumar told NBR the Mega service claims around three million signups and “thousands” of paid users, adding that the service is planning desktop synchronisation, and apps for iOS and Android “over the next few weeks” to help it compete with Dropbox.
While Dotcom doesn't hold any shares in Mega, his wife's trust holds 90 percent of the company.
New Zealand's High Court is currently in a closed hearing to decide on evidentiary matters relating to the Dotcom case. His lawyers are barred from the current proceeding. ®
Update: New Zealand media are reporting that the country's Court of Appeal has today ruled that Dotcom can sue the Government Communications Security Bureau over its illegal spying on him and colleague Bram Van der Kolk.
According to 3News, the GCSB only needs to reveal information that is relevant to the case. ®