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: Oregon sues Oracle over failed health care website

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

Oregon sues Oracle over failed health care website

2 hours ago

Oregon Attorney General Ellen Rosenblum says she's filed a lawsuit against Oracle Corp. and several of its executives over the technology company's role in the state's troubled health insurance exchange.

Google buys product design firm Gecko

2 hours ago

Google on Friday confirmed that it bought Gecko Design to bolster its lab devoted to technology-advancing projects such as self-driving cars and Internet-linked Glass eyewear.

Ticketfly buying WillCall for on-premise data

Aug 21, 2014

Ticketfly Inc., a San Francisco-based technology company among several posing a challenge to Ticketmaster, is acquiring WillCall Inc., a crosstown rival that turns your smartphone into a mobile wallet at live events.

HP revenue inches up after years of decline

Aug 20, 2014

Hewlett-Packard on Wednesday reported that its quarterly revenue rose for the first time in three years, nudged by improved computer sales everywhere except Russia and China.

Restaurants experimenting with pay-in-advance tickets

Aug 20, 2014

With restaurant patrons increasingly jumping on the Internet to make reservations, some high-end eateries here and across the country are adding a new tech wrinkle: having their clientele pay for their meal in advance using ...

User comments : 0