BitTorrent, Inc. Raises $17 Million Series C
BitTorrent is a P2P content sharing protocol used to share large amounts of data. The protocol is maintained Bram Cohen’s company BitTorrent, Inc. Cohen designed the BitTorrent protocol in 2001. Cohen’s company has raised $17 million in a third round of funding according to PEHub. The investors include DAG Venture,s DCM and Accel Partners. This brings BitTorrent’s total funding to $46.4 million.
BitTorrent powers the high quality videos that run on Revision3.com. BitTorrent has also recently signed up 2 game development companies to stream online games to customers. The two game companies are Aeria and IAHGames. Many people use the BitTorrent protocol to share copyright music and movies.
Although BitTorrent Inc. had a recent staff cut at their San Francisco, Calif. office they are actively signing deals with Hollywood distributors for the selling of movies and music.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry