San Francisco-Based BitTorrent Raises $8.75 Million in First Round

San Francisco - BitTorrent, the San Francisco-based eveloper of peer-to-
peer file-sharing software with 45 million users, said that it has raised
$8.75 million in its first round of venture capital financing, which the
company intends to use to develop its software into a commercial digital
distribution tool for media firms. DCM - Doll Capital Management led
the investment round. While BitTorrent creator Bram Cohen did not
specifically say that his software would cease supporting the trading of
free music, movies, games and other copyrighted works, he did speak of
cooperating with media firms. DCM co-founder David Chao was more
explicit. "We believe BitTorrent's cooperative distribution technology
will become the leading platform for the legal and secure distribution of
large-file content for a wide range of commercial purposes around the
globe," said Chao. BitTorrent's software is already used by firms
including Red Hat, Sun Microsystems, PBS and Blizzard Entertainment
for legal content distribution.
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