Bittorrent Receives $8.75 Million in Funding
The developer of the Bittorrent technology has just got the commitment of $8.75 million financial support from a venture capital firm. The plan is to further develop the technology to develop it into a commercial distribution tool for media companies. The technology, which is giving nightmares to organizations like RIAA and MPAA, is not going anywhere!
The technology was first developed in the 2001 when Bram Cohen created Bittorrent as a hobby after he found himself unemployed due to dotcom crash. Now, it has become the preferred method to share files on the internet replacing the traditional p2p applications like Kazaa and Napster.
The technology works fantastically well for large files as it enables users to share the content by splitting them into tiny bits, which are made available for, upload as soon a user downloads them. The information can be grabbed from a large pool of users connected to the Bittorrent networks.
The party financing this development is the Doll Capital Management based in California. Cohen said about this new development: “Bittorrent will become the ideal platform for both independent publishers and the world’s leading media companies alike.”
Sushubh Mittal, Search Engine Journal Tech Columnist and Resident Opera User – Sushubh, the Editor of TechWhack, is a self described tech freak who loves to test out software and criticize the flaws in them. He is a die-hard Michael Schumacher fan and has been featured on the CBS MarketWatch website and Google’s GMail Press Page.