• On TechRepublic: 10 cool USB flash drive tricks
November 30, 2006 9:50 PM PST

BitTorrent receives $20 million in financing

by Greg Sandoval
  • Font size
  • Print
  • 2 comments

File-sharing company BitTorrent has received $20 million in financing, the company announced late Thursday.

San Francisco-based BitTorrent also addressed reports that Bram Cohen was on his way out as the company's CEO. BitTorrent executives told CNET News.com that the stories are untrue and Cohen has no intention of stepping down.

"This financing is a clear testament to the strength of our technology and potential growth," Cohen said in a statement. "I look forward to spearheading the continued development."

BitTorrent's open-source distribution system was designed to help transfer large files over the Internet. Best known as a tool for people to pirate music and video, BitTorrent's technology has begun winning credibility in Hollywood over the past eight months.

On Tuesday, the company announced that it will begin offering movie downloads from such studios as Paramount Pictures, 20th Century Fox and Lionsgate in February.

BitTorrent's allows a single digital file to be broken into small fragments that are distributed among computers. People then share pieces of the content with one another.

The new financing was led by Accel Partners, the venture capital firm's first investment in the company.

Greg Sandoval covers media and digital entertainment for CNET News. He is a former reporter for The Washington Post and the Los Angeles Times. E-mail Greg, or follow him on Twitter at http://twitter.com/sandoCNET.
advertisement
Click here!
Recent posts from News Blog
Nvidia puts NForce chipset development on hold
Opera 10 browser is here
Neil Young Archives Blu-ray: Rip off?
Acronis revises survey results about backup habits
Acronis miscalculates data on users' bad backup habits
Flickr co-founder presses beta button
Comcast, Sony open retail store
Cox to try coaxing the Internet into submission
Add a Comment (Log in or register)
by diamondangel123 March 7, 2009 3:17 AM PST
Hello.....I have first time visiting this site and really like its contents.

-------


angel

<a href="http://www.talkingcarloans.com" rel="dofollow">Car Loans</a>
Reply to this comment
by diamondangel123 March 17, 2009 12:15 AM PDT
helloo...I am here again.

------

<a href="http://equity.talkingfinancing.com" rel="dofollow">Equity Loans</a>
Reply to this comment
advertisement

A CNET Conversation with Eric Schmidt

CNET's Tom Krazit and Molly Wood sit down with Google CEO Eric Schmidt to discuss the future of Android, the Chrome OS, the problem of real-time search indexing, and more.

Verizon tests sending RIAA copyright notices

The No. 2 phone company, known for its reluctance to intervene in antipiracy cases, strikes an agreement to forward copyright notices on behalf of the music industry.

About News Blog

Recent posts on technology, trends, and more.

Add this feed to your online news reader

advertisement

Inside CNET News

Scroll Left Scroll Right