After months of speculation about the mysterious Sharman Networks and its hugely popular file-swapping software Kazaa, the company's chief executive went public with primary details of the company. CEO Nikki Hemming revealed that Sharman is funded by a group of private individual investors who wish to remain anonymous and is registered for tax reasons in Vanuatu, an island nation that advertises itself on its Web site as "the South Pacific's premiere tax haven."

Rumors have floated for months, spurred by a note in the company's terms of service, that Kazaa would soon start charging for its service. Hemming said that she intended to keep the basic Kazaa service free, but would later introduce a premium service with new features. The company already has a deal with DoubleClick to serve ads through the Kazaa software! For More Info Warp2 Ibelite.com