BitTorrent Inc receives $20 Million in Funding

Written by Smaran on December 01, 2006 

BitTorrent Inc has officially announced that they are receiving a second round of funding totalling $20 million. As predicted, the investors are Accel Partners and Doll Capital Management.

BitTorrentIn this second round of investments Accel Partners joins Doll Capital Management, who already supported BitTorrent Inc with $9 million last year. The new round of funding was probably accelerated by the news of BitTorrent Inc teaming up with a host of major movie and TV studios earlier this week.

“This financing is a clear testament to the strength of our technology and potential growth, and I look forward to spearheading the continued development of BitTorrent,” said Bram Cohen in response to the announcement.

It hasn’t been an easy ride for the company, but it looks like things may finally be falling in place. BitTorrent Inc has had a great a business model for a while, it’s the support of major media companies that was lacking. The deals signed earlier this week and the following investment of venture capital is bound to bring it success.

“To have the support from Accel Partners and initial investor DCM is fuel for our continued leadership as the preeminent mechanism for efficient content delivery on the Web. Both firms are top-tier venture investors and bring a wealth of expertise and relationships to support our dominant position in the marketplace,” said Ashwin Navin, President and Co-founder of BitTorrent.

Previously: Founder of Torrentscan.com has Domain Hijacked

Next: Gulliver’s Travels Free and Legal on BitTorrent

5 Responses

1 Dec 01, 2006 at 18:38 by bardicknowledge

Awesome. I will have to start testing their next bout of clients if they are receiving so much money to develop the protocol.

2 Dec 01, 2006 at 18:49 by Yatti

Sounds good… I don’t know if I will ever switch back to the official Bit Torrent Client\ Thats alot of funding…

3 Dec 02, 2006 at 01:05 by Jasper van Weerd

Amazing,

Of course the share of bandwidth within the world was a must, since the power needed to runt the total NW will reach the sky within years, since the internet has been here for 10 years now, (then I think of mass computerizations within the main communities in the world.) what will we have within 10 years from now? cars on the internet with connectors onto the net for routing and services, viruses for cars (since that goes on also), and on and on. So whats the 29.000.000 in investments, its a great opportunity for the BT community, but a blink on the world market.

4 Dec 02, 2006 at 12:19 by Smaran

@ bardicknowledge & Yatti: BitTorrent.com has become a really cool and content-rich portal for free (& legal) torrents. Sadly, the official clients aren’t nearly as good some of the other lighter or feature-full ones like µTorrent and BitComet respectively. (or Transmission and Azureus on the Mac)

@ Jasper van Weerd: The investment might not be as much as some more prominent tech companies receive, but it is significant, and extremely important for the further development of the BitTorrent protocol. It might even lead to other legal BitTorrent sites receiving funding.

5 Dec 10, 2006 at 18:41 by yeti

well they bought µTorrent already for improving it.
Free sharing wont last forever.
It`s a shame.

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