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: IBM posts lower 1Q earnings amid hardware slump

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

IBM posts lower 1Q earnings amid hardware slump

42 minutes ago

IBM's first-quarter earnings fell and revenue came in below Wall Street's expectations amid an ongoing decline in its hardware business, one that was exasperated by weaker demand in China and emerging markets.

New US-Spanish firm says targets rich mobile ad market

7 hours ago

Spanish telecoms firm Telefonica and US investment giant Blackstone launched a mobile telephone advertising venture on Wednesday, challenging internet giants such as Google and Facebook in a multi-billion-dollar ...

Technip, Heerema win third giant Angolan oil contract

10 hours ago

The ultra-deep Angolan offshore oil project called Kaombo generated the third huge contract in three days on Wednesday when French group Total picked two firms to carry out underwater engineering worth $3.5 billion.

User comments : 0

More news stories

IBM posts lower 1Q earnings amid hardware slump

IBM's first-quarter earnings fell and revenue came in below Wall Street's expectations amid an ongoing decline in its hardware business, one that was exasperated by weaker demand in China and emerging markets.

Microsoft CEO is driving data-culture mindset

(Phys.org) —Microsoft's future strategy: is all about leveraging data, from different sources, coming together using one cohesive Microsoft architecture. Microsoft CEO Satya Nadella on Tuesday, both in ...

Researchers see hospitalization records as additional tool

Comparing hospitalization records with data reported to local boards of health presents a more accurate way to monitor how well communities track disease outbreaks, according to a paper published April 16 in the journal PLOS ON ...

Ebola virus in Africa outbreak is a new strain

Scientists say that the Ebola (ee-BOH'-lah) virus that has killed scores of people this year in Guinea (GIH'-nee) is a new strain. That means it did not spread there from outbreaks in some other African nations.