Azureus Lands $12M VC Round |

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Azureus Lands $12M VC Round

6. December 2006, 21:55 Uhradmin

A day after BitTorrent grabbed $20 million in financing, open-source BitTorrent client Azureus reeled in $12 million for its second finance round. Named after the poisonous tree frog that serves as the company logo, founder Gilles Bian Rosa announced back in July he planned to build a commercial company around the three year old application, among the most popular BitTorrent clients. The financing round was led by Redpoint Ventures. Other investors include Greycroft Partners, CNET Chaiman Jarl Mohn, and BV Capital who seeded the company’s initial round this past summer. Rosa serves as CEO of the company, which is headquartered in Redwood City, CA.

Before Bram Cohen convinced Hollywood that he would work his BitTorrent technology to their favor, venture capital steered clear of peer-to-peer technology as they proved to be a magnet for litigation. Now that this technology has Hollywood’s blessing (for now) the VCs are going after those BitTorrent clients who can best compete with Cohen’s company for what they hope will be a piece of a very lucrative Net distribution business.

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A peer-to-peer (or P2P) computer network relies primarily on the computing power and bandwidth of the participants in the network rather than concentrating it in a relatively low number of servers. P2P networks are typically used for connecting nodes via largely ad hoc connections. Such networks are useful for many purposes. Sharing content files (see file sharing) containing audio, video, data or anything in digital format is very common, and realtime data, such as telephony traffic, is also passed using P2P technology.A pure peer-to-peer network does not have the notion of clients or servers, but only equal peer nodes that simultaneously function as both "clients" and "servers" to the other nodes on the network. This model of network arrangement differs from the client-server model where communication is usually to and from a central server. A typical example for a non peer-to-peer file transfer is an FTP server where the client and server programs are quite distinct, and the clients initiate the download.