Pando Networks Completes Second Round of Financing

May 19, 2006

Pando Networks Inc., creators of a peer-to-peer distribution solution for the private transport of consumers' digital media, has announced the completion of $7 million in financing led by Intel Capital.

The investment will support the launch of Pando's first consumer offering, a solution for sharing personal media--home movies, folders of family photos, business presentations--too large to send via email. A small, free, downloadable application, Pando allows users to share digital media using their existing email addresses. Intel's investment in Pando is being made through its Digital Home Fund, which invests in companies developing technologies. Private equity investors BRM Capital and Wheatley Partners, which provided the company's first round of financing, also participated in this round.

Featuring a drop and send interface, Pando combines peer-to-peer technology with the send-and-forget paradigm of email. Using Pando Networks' expanded BitTorrent technology, Pando bypasses the email server to transport "Pando Packages," a combination of files and/or folders, which are then downloaded directly from the Pando network to the recipient's computer.