New Deals, Big Money for BitTorrent?

Update #2 @ 2.42 PM, Wednesday: We have received confirmation that the $25 million round is closed and Accel is indeed leading the round of financing. In addition, Bram emailed us and lets us know that he is still with the company. “I’m still happily here at BitTorrent, and there’s no plans for me to leave,” he wrote to us in an email.

Updated: BitTorrent has signed partnerships with major media companies like 20th Century Fox, Paramount, Starz Media and Comedy Central. These deals with the established media are perhaps a sign why the company is being able to raise more money. Of course, the digital download store is still not open.

Sources say BitTorrent, the company trying to monetize the peer-to-peer distribution software of the same name, is close to raising a substantial round of funding. The round is estimated to be at least $15 million and could be as high as $25 million.

Accel Partners and Doll Capital Management are likely investors in this round, one source tells us.We have not been able to confirm this from more than one source, so please take it with a big grain of salt. BitTorrent spokeswoman Lily Lin emailed us back and said no announcements on any funding.

There is talk about founder and CEO Bram Cohen being replaced by a more seasoned manager, and apparently have hired a head hunter, to lead the search. We have confirmed this information.

BitTorrent previously raised $8.75 million from Doll Capital Management, something we also heard rumored before it happened.

BitTorrent has not yet launched its long-awaited video store. Perhaps this latest funding will boost the company’s e-commerce rollout. BitTorrent spent some of the year announcing truces and partnerships with Hollywood, but it has been quiet lately. We don’t yet have information about the identity of the funders, but we will report back when we know more.

loading

Comments have been disabled for this post