FutureFive NZ - Kiwi backed Mega revenge free

Warning: This story was published more than a year ago.

Kiwi backed Mega revenge free

Kim Dotcom insists his new file-sharing service Mega is not a revenge mission following the Megaupload saga, branding the new site "legal."

But after launching the site at 6:48am yesterday, exactly a year on from a police raid on Dotcom's mansion, many believe the site to have ulterior motives.

Speaking at the launch of the site, the internet tycoon was quick to quash such claims, believing the site has a "right to exist".

"This is not some kind of finger to the U.S. government or to Hollywood," Dotcom told Reuters.

"Legally, there's just nothing there that could be used to shut us down.

"This site is just as legitimate and has the right to exist as Dropbox, Boxnet and other competitors."

Tony Lentino

Dotcom also revealed Mega's largest investor, in the form of New Zealand Tony Lentino.

Hailing from Wellsford, Lentino is the largest of three outside investors in the site, being subsequently named as CEO of Mega.

Lentino, whose company has a revenue of $20m per year, has been contracted to provide billing and technical services to the site.

During a pre-launch interview with NBR ONLINE, Dotcom spoke of his frozen funds and why Lentino's help was crucial in getting the project up and running.

"He is a close friend and business partner. He was instrumental to me being able to stay in my home and help out with paying the rent early on when I didn't have the court decision yet that I could have funds to pay by rent."

Alleged to be a well-known figure in the domain name industry, Lentino does not occupy a majority stake in the company however.

According to Companies Office records 89.69% of Mega shares are held by MD Corporate Trustee Ltd, whose sole director and shareholder is Dotcom's wife Mona.

Reuters reports that although Mona Dotcom is the largest shareholder, she is not a director with the three members of Mega's board made up of Kim Dotcom, Lentino and Mathius Ortman (one of Dotcom's three co-accused).

What do you think of Kim Dotcom's new Mega site? Tell us your thoughts below

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