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Brilliant Digital snags funding

Brilliant Digital Entertainment, known in Internet circles for its deal to bundle software with file-swapping service Kazaa, said it has raised $450,000 through the sale of common stock and warrants. The Los Angeles-based company said the latest funds add to a private placement financing transaction last month in which the company tapped $800,000. The company said the funds will allow Brilliant Digital to continue to pursue sales of its ad-serving technology it calls Brilliant Banner and also to contribute to development of a secure peer-to-peer network called Altnet, software that is bundled alongside Kazaa. A developer of 3D-rich media advertising, Brilliant Digital licenses its Brilliant Banner to the Web-based advertising industry. The company also sells another technology, B3D Studio, which delivers interactive, streaming of 3D graphics over the Web.

Brilliant Digital Entertainment, known in Internet circles for its deal to bundle software with file-swapping service Kazaa, said it has raised $450,000 through the sale of common stock and warrants. The Los Angeles-based company said the latest funds add to a private placement financing transaction last month in which the company tapped $800,000. The company said the funds will allow Brilliant Digital to continue to pursue sales of its ad-serving technology it calls Brilliant Banner and also to contribute to development of a secure peer-to-peer network called Altnet, software that is bundled alongside Kazaa.

A developer of 3D-rich media advertising, Brilliant Digital licenses its Brilliant Banner to the Web-based advertising industry. The company also sells another technology, B3D Studio, which delivers interactive, streaming of 3D graphics over the Web.