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Media File-Sharing Technology Developer Pando Networks Raises $4 Million

Authored by Mark Hefflinger on December 7, 2004 - 4:19am.
New York -- Pando Networks, a New York-based start-up developing digital media file-sharing technology, announced that it has raised $4 million in its first round of financing, from BRM Capital and Wheatley Partners. The company said that it will accept another up to $2 million for the round in the next two months. Pando also named iVillage co-founder Robert Levitan as its CEO. The company's technology is being developed by a team that includes company co-founder Laird Popkin, former director of digital technology for Warner Music Group, and lead architect Julian Cain, a former Mac programmer at Sharman Networks who also developed the XFactor peer-to-peer application. Pando said it will use the funds to develop next-generation Internet infrastructure and applications.
tags: Deals | VC | Pando Networks | Media File-Sharing Technology Developer |