“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.

Source: TorrentFreak, for the latest info on copyright, file-sharing and anonymous VPN services.

Red Herring:“AllPeers co-founder and CEO Cedric Maloux declined to disclose the amount of funding from Mangrove Capital Partners and Index Ventures, but said it was less than $5 million,” says the story.

Maloux recently told p2pnet Allpeers will be open-source, and that the company would also release its own distinct end-user application built on the AllPeers platform.

“The service is and will remain free for sharing files in a private group,” promised Maloux. “Later, added-value services will be introduced. It’s like Skype: the VOIP service is free but SkypeOut, SkypeIn are not.”

Did that mean users can expect ads soon to be blotting the landscape?

Definitely not, Maloux continues, “there will be no advertising (banners or contextual text links or whatever) in the software.”

AllPeers is slated for beta-testing this month and Maloux, “maintained the software is to be used for the purposes of trading non-copyrighted material between friends and family. It will act as a BitTorrent client when multiple people want the same file by having them share pieces of it among each other.”

He also said the company, “would tell users they are not allowed to share copyrighted content but would not monitor their activities,” says Red Herring.

p2pnet.net

Source: TorrentFreak, for the latest info on copyright, file-sharing and anonymous VPN services.