Liz Gannon at NewTeeVee notes that PeerApp has won $8 million in Series B funding.
There’s still VC money out there, but not nearly as much as in years (or months) past. So how did PeepApp win 8 million bucks?
Because in tough economic times, customers want you to save them money.
From Liz’s post:
…PeerApp’s customers [...] are primarily outside of the U.S. and Europe, where transferring video is hugely expensive for service providers. Customers are willing to pay for UltraBand because it can provide a return on investment within nine months, according to Strangio.
Every year since 2000 people have been telling me that “in two years” bandwidth will be so cheap that video compression and nifty technology like PeerApp’s will be irrelevant.
And every year I have the same response: until bandwidth is free, it will never be cheap enough.
On2 has no relationship with or financial stake in PeerApp.
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