Pando Networks – Profile
HQ: New York, NY
Management: Robert Levitan, iVillage Co-Founder is CEO. Levitan was also a co-founder and the CEO of Flooz.com, a defunct online payment company. Eli Barkat, a VC at BRM and former CEO of Backweb, is on the board.
Investors: Company raised a $4M series A from BRM Capital and Wheatley Partners.
Business Model:Company is not revealing much, but it aims to enter the P2P file sharing market and do for video assets what KaZaA and others have done for music. Typically these companies make money through advertising.
Competitors: KaZaA, Morpheus, Limewire.
Dirt: Pando is not very adept with PR – we can’t understand why they didn’t stay in stealth mode. They don’t even have a logo yet. And their “coming out” press release wasn’t picked up by anyone. That said, we believe there is plenty of room in the P2P file sharing market. Consumers get annoyed with incumbents and perhaps Pando can gain a cleaner image.