Kim Dot Com Launches New 'Mega' Site

Episode 945 (02:29)

After having MegaUpload seized and taken down by the feds, internet entrepreneur Kim Schmitz, aka "Kim DotCom," launched a new file storage and sharing site today, simply called MEGA. Schmitz is also cleverly calling it the "privacy" company, with a special one touch privacy feature. Currently, Mega is only offering cloud storage, but DotCom says that more features will be coming online including mobile access and sync tools to all major platforms.

Leo says according to a European study, the shutdown of Mega Upload had a negative affect on revenue for movies and music as the word of mouth by file sharing didn't help. Studies actually show that while piracy goes on, file sharing actually helps smaller movies and music be discovered.