Peerflix nabs $8 million, now offers 100,000 DVDs

October 26, 2005 | Matt Marshall

Peerflix, the online peer-to-peer (P2P) service that allows members to legally trade DVDs, said it has raised $8 million in venture backing.

The company, based in Menlo Park, said it has more than 100,000 DVDs for trade on its network.

The venture round was led by Battery Ventures, and Battery partner Roger Lee joins the board. Lee is the same guy who invested very early into Friendster — long before it reached the height of its buzz. So he knows how powerful network effects can be — but also how vigilantly a company needs to stay abreast of trends to avoid being eclipsed by others.

Here is our earlier stuff on Peerflix, written in March. Note that they’d already raised a first round back then, and they’d signaled that this latest second round was coming. So they are on track.

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About the Author, Matt Marshall

Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.