Valleywag
Ah, looks like BitTorrent, which maintains the peer-to-peer file sharing system, may indeed be raising a big new investment round, a rumor we mongered a couple of weeks ago. Om Malik's heard Accel Partners may be coming in as lead in a new injection of up to $25m. Accel is also an investor in Facebook, the social network for college students. Valleywag had picked up, separately, that the round's heavily over-subscribed.
Accel Partners to lead new round in BitTorrent
Ah, looks like BitTorrent, which maintains the peer-to-peer file sharing system, may indeed be raising a big new investment round, a rumor we mongered a couple of weeks ago. Om Malik's heard Accel Partners may be coming in as lead in a new injection of up to $25m. Accel is also an investor in Facebook, the social network for college students. Valleywag had picked up, separately, that the round's heavily over-subscribed.
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10:19 PM on Tue Nov 28 2006
By Nick Denton
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4 comments
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Am I missing something here? I thought BT was a file-sharing protocol know specifically for its lack of central maintenance or control. So the "peer-to-peer file sharing system" that Accel is investing in is just the original Bit Torrent site that now sells movies and TV shows?, a move that I remember had the P2P community at large criticizing Bram Cohen for "getting in bed with the enemy."
Bittorent Inc has been developing a closed secure flashy Hollywood aproved branch of the Bittorrent client for over a year now .
Bram developed the protocoland released it back in 2001 .
And Bittorrent Inc has not sold any movies or Tv shows yet .
A VC emails in: I don't understand any 'platform for rent' business models these days. I think investors are paying up for brands like bittorrent and brightcove without digging into the business fundamentals.
Nick the VCs should be investing in the underlying technology of p2p as a distribution platform and not destination sites like Bittorent.com or Brightcove.
One thing you didnt mention is that Bram Cohen will step down as CEO of Bittorent .Om Malick has more gossip about this than you do today .
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