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File-Sharing Service StreamCast Networks Gets $1.2 Million

Authored by Mark Hefflinger on May 1, 2003 - 8:26am.
Los Angeles -- StreamCast Networks, distributor of the Morpheus peer-to-peer file-sharing software, announced that it has received $1.2 million in new financing in the form of a convertible loan. A federal judge last week ruled in a lawsuit filed against StreamCast by the entertainment industry that the company's software -- which lets users connect to one another's PCs and download music, video and other files -- does not infringe on copyrights. The company also announced this week the launch of Morpheus version 3.0, as well as the return of former CEO Michael Weiss as head of the company.
http://www.streamcastnetworks.com/04_30_03_morph30.html
http://news.com.com/2100-1032-999026.html?tag=fd_top
http://www.streamcastnetworks.com
http://www.morpheus.com
tags: File-Sharing | StreamCast | Networks |

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