With BitTorrent become an increasingly important part of the delivery of digital content, they have now been offered the chance to grow even more as they secured $20 million in series B financing. The company says that it plans to use them money to expand its technology to other web sites.
The company claims that its protocol accounts for up to 40 percent of all Internet traffic in the world.
CEO and co-founder Bram Cohen says, "When I created BitTorrent in 2001, my mission was to solve the problem every website has when distributing large, popular files, this mission is still what drives BitTorrent today and couldn't be more relevant as the Web grows into a channel for consuming large, high-value entertainment and information content. "
They have partnerships in place with over 20 major film studios and television networks, and project that they will be offering thousands of movies and TV shows on their own site, BitTorrent.com as a result of the deals in place.
This is a good move to me because it removes them from relying upon competing in the increasingly competitive video downline space which will eventually become commoditized as far as the mainstream media offerings go.
This expanding of their technology gives them another stream of income that is much more conducive to long-term growth and profits.
Comment Preview