Online video firm Brightcove files for IPO

Aug 24, 2011
Brightcove, a US tech company which provides a cloud computing-based platform for online video, plans for an IPO on the Nasdaq electronic stock exchange.

Brightcove, a US tech company which provides a cloud computing-based platform for online video, filed on Wednesday for an initial public offering (IPO) that aims to raise up to $50 million.

Brightcove plans to list on the electronic stock exchange under the ticker symbol "BCOV", the company said in a filing with the US .

The company, which does not expect to make a profit until 2013, will seek to cash in on a recent enthusiasm for tech IPOs which has resulted in soaring valuations for companies like professional-networking site LinkedIn.

"We believe there is a large and growing market opportunity for our on-demand solutions," Brightcove said in its filing.

The company's main product is Brightcove Video Cloud, launched in 2006. It allows clients to distribute video to Internet-connected devices including computers, tablets and smartphones.

Headquartered in Cambridge, Massachusetts, Brightcove said it had 3,295 customers in more than 50 countries, including The New York Times Company, Honda, Oracle and the .

The company disclosed that it had a net loss of $17.8 million last year on revenues of $43.7 million.

Explore further: Microsoft CEO sees 'bold' plan as 4Q tops Street

add to favorites email to friend print save as pdf

Related Stories

LinkedIn looking for $32 to $35 per share in IPO

May 09, 2011

(AP) -- Professional networking website LinkedIn Corp. hopes to sell its stock for $32 to $35 per share in an upcoming initial public offering. Its IPO may encourage other growing Internet services to make ...

Pandora hopes IPO will raise $123 million

Jun 03, 2011

Pandora Media Inc., which announced plans earlier this year to sell its stock in an initial public offering, said it and its investors were seeking to raise as much as $123 million - an amount that would value the Internet ...

Skype getting new chief executive from Cisco

Oct 04, 2010

(AP) -- Skype is replacing its CEO with a Cisco Systems executive, a change that may indicate the Internet calling service is closer to announcing specific plans for an initial public offering.

China video-sharing site Youku files for IPO in US

Nov 16, 2010

China's biggest online video-hosting site Youku.com is seeking to raise up to 150 million dollars in a US initial public offering as it jostles with domestic rival Tudou.com for top position.

Recommended for you

Cheaper wireless plans cut into AT&T 2Q profit

8 hours ago

(AP)—AT&T posted lower net income for the latest quarter due to cheaper cellphone plans it introduced as a response to aggressive pricing from smaller competitor T-Mobile US.

Android grabs more tablet market share

10 hours ago

Global sales of tablet computers edged higher in the second quarter, in the slowest growth since 2009, research firm Strategy Analytics said Wednesday.

Microsoft CEO sees 'bold' plan as 4Q tops Street

21 hours ago

(AP)—Microsoft Corp. CEO Satya Nadella painted an upbeat vision of the future Tuesday, saying that the next version of Windows will be unified across screens of all sizes and that two money-losing units—Nokia ...

Apple's fiscal 3Q earnings top analyst forecasts

Jul 22, 2014

Apple's growth prospects are looking brighter as anticipation builds for the upcoming release of the next iPhone, a model that is expected to cater to consumers yearning for a bigger screen.

User comments : 0