Here’s the latest action:File-sharing company Pando Networks raising $20.9M — Pando Networks, a New York file-sharing company that uses P2P software to allow users to download, stream and share large media files quickly, has raised $8.1 million of a targeted $20.9 million round of capital, VentureBeat has learned. The company has gotten positive press coverage for its ability to send very large files, such as high-def video. The round is includes backers Wheatley Partners and BRM Capital Fund. (Our early coverage of Pando.)
Federal Communications Commission weighs action against Comcast — The FCC said Comcast may have violated Net Neutrality principles, after it acknowledged t was slowing down traffic for peer-to-peer file-sharing sites. It is unclear what, if any, penalty the FCC can impose.
Cisco backs hi-definition streaming video company GridNetworks –Cisco participated in the Seattle company’s $9.5 million first round, part of the giant San Jose company’s effort to move into digital media to grow traffic on its infrastructure. GridNetworks competes against other content delivery networks, such as Akamai or Limelight, using a peer-to-peer client. We covered the company here.
Online advertising company Adjug gets backing from Tomorrow Focus — Adjug, the London based ad marketplace, lets advertisers determine where on a Web page they can place an ad, and decide what price they will pay to the publishers (announcement of the strategic investment is here ).
Softcoin, Web-based promotions company, raises $200,000 more — The Silicon Valley company offers promotion and loyalty programs online in the form of coupons. Customers get to redeem them in a store. The Brisbane, Calif. company has now raised $2.2 million in a third round of funding, which came from RRE Ventures, Greylock Partners and others, according to VentureWire.
Wireless car technology gets adopted by Ford – Airbiquity lets a driver’s cellphone deliver location and diagnostic data about their vehicle. The Seattle company has just landed a customer in Ford. See our recent coverage of Airbiquity and its financing here.
Walt Disney Co. expects $1 billion in revenue from online content this fiscal year — That’s a major increase from last year, according to CEO Robert Iger.