##### 



EXHIBIT 21.1


Subsidiaries of Digital River, Inc.


|                                        |  |                                        |                | 
|--------------------------------------- |  | -------------------------------------- | -------------- | 
|Subsidiaries                            |  | State or Jurisdiction of Incorporation |               
|                                        |  |                                        |               
|BlueHornet Networks, Inc.               |  |                                        | California     | 
|CCNow, Inc.                             |  |                                        | Minnesota      | 
|Commerce5, Inc.                         |  |                                        | Delaware       | 
|Digibuy, Inc.                           |  |                                        | Minnesota      | 
|Digital River, Inc.                     |  |                                        | Minnesota      | 
|Digital River E-Business Services, Inc. |  |                                        | Delaware       | 
|Digital River Ireland Limited           |  |                                        | Ireland        | 
|Digital River Japan K.K.                |  |                                        | Japan          | 
|Digital River Korea YH                  |  |                                        | Korea          | 
|Digital River oneNetwork Corporation    |  |                                        | Minnesota      | 
|Digital River Technology Limited        |  |                                        | Ireland        | 
|Digital River UK Limited                |  |                                        | United Kingdom | 
|DR Acquisition 03-F, Inc.               |  |                                        | Minnesota      | 
|DR Acquisition Corp 04-E                |  |                                        | Minnesota      | 
|DR APAC, Inc.                           |  |                                        | Minnesota      | 
|DR Express, Inc.                        |  |                                        | Delaware       | 
|DR E-Channel, Inc.                      |  |                                        | Minnesota      | 
|DR E-Subscription Services, Inc.        |  |                                        | Delaware       | 
|DR GmbH                                 |  |                                        | Germany        | 
|DRT Acquisition Corp.                   |  |                                        | Delaware       | 
|element 5 AG                            |  |                                        | Germany        | 
|element 5, Inc.                         |  |                                        | Delaware       | 
|Emetrix, Inc.                           |  |                                        | Minnesota      | 
|Fireclick, Inc.                         |  |                                        | Minnesota      | 
|FreeMerchant, Inc.                      |  |                                        | Minnesota      | 
|GameZone Online, Inc.                   |  |                                        | Minnesota      | 
|Orbit Commerce, Inc.                    |  |                                        | Minnesota      | 
|Reg.Net, Inc.                           |  |                                        | Minnesota      | 
|RegNow, Inc.                            |  |                                        | Minnesota      | 
|RegSoft, Inc.                           |  |                                        | Minnesota      | 
|RegSoft.com, Inc.                       |  |                                        | Georgia        | 
|ShareIt Inc.                            |  |                                        | Pennsylvania   | 
|SW REG, Inc.                            |  |                                        | Minnesota      |