Payday for Red Swoosh: $15 million from Akamai
Written by on April 12th, 2007 in Ajax News.
Akamai has acquired Red Swoosh for $15 million in a stock for stock transaction. We covered Red Swoosh last year when they launched a free, ad supported version of its file serving technology.
This brings to a close the long and dramatic Red Swoosh saga. Their technology bittorent-like technology to quickly transfer files using peer to peer technology. Some companies are starting to use bittorent directly for file sharing, which questions the need for something like Red Swoosh - see this post on the BBC’s useage of Zudeo and bittorent to deliver files to users. Pando, another startup, also overlaps a bit with Red Swoosh.
The company was founded back in 2001, but went through some troubled years during the crash. They recapitalized the company in 2005 and raised an additional $1.7 million from Mark Cuban.
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Source: TechCrunch
Original Article: http://feeds.feedburner.com/~r/Techcrunch/~3/108638484/