Brightcove Files For An IPO
Brightcove is an online video infrastructure company that has filed for a $50 million IPO. It is unknown how many shares they plan on selling as part of the deal. The underwriters in this IPO includes Morgan Stanley, Stifel Nicolas, RBC Capital, Pacific Crest and Raymond James.
Brightcove is based in Cambridge, Massachusetts and has over 3,000 customers including Bank of America, Oracle, Showtime, NYT, the U.S. Army, and Macy’s.
Brightcove posted $26.35 million in revenue for the first half of 2011, which is up from $20.31 million the year before. Brightcove reported a loss of $9.5 million during the first half of 2011 and $8.1 million a year earlier.
In all of 2010, Brightcove reported revenues of $43.7 million and lost $17.4 million total. Investors in Brightcove includes Accel Partners and General Catalyst.
[Forbes]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry