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Pervasip (PVSP) may be leading Parker & Fanning’s Airtime

Sean Parker and his Napster co-founder are back! They’re launching a new startup led by Sean Fanning.

Parker is reuniting with his Napster co-founder Shawn Fanning to work on a secretive new video startup that they’re calling Airtime. Fanning, who wrote the code for Napster, will be CEO, while Parker will be executive chairman, they told the Financial Times. Earlier in the year Shawn Fanning’s uncle, John Fanning who funded Napster, invested heavily in an IT company Pervasip, publicly traded under the symbol “PVSP” through his firm NetCapital. Fanning, noted, “We have a track record of success with disruptive technologies, and Pervasip‘s technology is a true example of how game-changing vision and wisdom can be forged into a paradigm-breaking commercial product.”

Details are slim on the project — but it will be related to video, and that it’s in part inspired by the short-lived sensation ChatRoulette, which allowed people to randomly start video chats with other users around the world. Airtime services may be provided by Fanning’s IT venture Pervasip. Its subsidiary, VoX Communications provides live “cloud” content & data streaming services through mobile & stationary devices. Pervasip has recently partnered with Lightsquared which plans to launch a national broadband network in 2012. The powerful combination of Pervasip‘s technology paired with Lightsquared’s instant access to data will set new standards in social media & how we connect with the digital world. As mobile devices are becoming a widespread global phenomenon, Pervasip intends to lead the way with transcendent products and services to meet the escalating appetite. From what is known, Airtime won’t pair people up at random (but may adopt social trends favoring the user’s preferences) but other than that, we can’t enunciate an adequate conjecture.

Some serious heavy hitters are funding the project. Yuri Milner of Digital Sky Tecnhologies, Google exec Marissa Mayer, and the controversial blogger turned investor Mike Arrington are amongst just a few of the big names involved in the project. Other major investments derive from Accel Partners and Andreesen Horowitz, which some might call Silicon Valley’s two most influential investment firms. G3 Connect invested half a million dollars already in Pervasip, with an additional $50,000 streaming in for the next 7 months. Fanning’s immersion in Pervasip is unprecedented, since the inclusion of “disruptive technologies” manifests his sucessful record.

http://veevoip.com/2011/12/08/pervasip-pvsp-may-be-leading-parker-fannings-airtime