BitTorrent Gets First Round of Financing

By Ian Bell September 27, 2005

If Kazaa and Napster can become a viable business, so can BitTorrent right? The popular peer-to-peer (P2P) developer has stated they will partner up with Doll Capital Management to lead a Series Aventure funding initiative worth $8.75 million dollars. The investment will help to globally commercialize their technology to turn it into a legitimate business. "While BitTorrentalready has become the de facto protocol for cooperative distribution on the Internet, DCM shares our belief that BitTorrent will become the ideal platform for both independent publishers and theworld’s leading media companies alike," said Bram Cohen, founder and CEO of BitTorrent. "We are committed to working with content creators and distributors to shape the future of mediadistribution, and to provide our users with a great product that brings their favorite videos, audio and software to their door-step." BitTorrent has more than 45 million users making itone of the largest P2P networks in the world. BitTorrent’s size has made the company a target for the RIAA and other industry organizations, but due to legalities, BitTorrent has dodged the bullet so to speak. In related news, look for Microsoft to enter theP2P market using a DRM-based technology.

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