Comcast Interactive Capital Invests in CDN GridNetworks
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Monday, May 19, 2008; 12:07 AM
NCTA brings in a slew of announcements, and this funding one: Comcast (NSDQ: CMCSA) is continuing its backtracking and cozying up to P2P providers, and has now invested in GridNetworks (GN), a Seattle-based P2P video content delivery network. The amount was not disclosed..last year the company raised $9.5 million first round led by Panorama Capital. GN will also work with Comcast on various applications.
GridNetworks provides its GridCasting service for HD video delivery through broadband connections, using a variation of the traditional P2P distribution. CEO Tony Naughtin was formerly at Internap (NSDQ: INAP) while CTO Jeff Payne was the architect of the Real Broadcast Network at RealNetworks (NSDQ: RNWK). As for Comcast's rationale, said Tony Werner, Comcast CTO: "We are interested in the application of P2P concepts in a manner that puts the quality of the consumer experience first, and enables lawful distribution of copyrighted content while also efficiently utilizing the network."
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GridNetworks Raises $9.5 Million First Round for P2P TV Technology
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