Brightcove is an online video service that has gone public on the NASDAQ under the symbol “BCOV.” The company opened at $14.50, which is 30% over the company’s original pricing at $11 per share. At $14.50 per share, Brightcove was valued at $382 million.
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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.
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One of the leading video search websites, PureVideo.com has announced that they now have an array of new features. Now users can create accounts and customize their own video websites, install a PureVideo-powered toolbar, browse through the new research channel, and there is also a deeper index of videos and a partnership with other video juggernaut websites.
Some of the new media partners include AtomFilms, Brightcove, Grouper, Music Nation, and Machinima.com. The reason why these new media partners have selected PureVideo is because the website search points users to appropriate content owners, thus preventing traffic theft that some other video sites are known for.
Aside from the new partnerships and the new toolbar, PureVideo-owned StupidVideos.com was ranked as the ‘stickiest’ video website by Compete.com. Not bad for a company that was launched about 6 months ago (October 2006). PureVideo brings in 2.2 million monthly visits and is ranked 1,184 by comScore.
My.PureVideo.com is the page where you can customize your video webpage and it is powered by Ajax. Users can select various feeds available from different video sources as displayed in the screen shot below:
The PureVideo toolbar can be downloaded from http://purevideo.media-toolbar.com/:
The new Research channel for PureVideo can be reached at http://purevideo.com/category-research/.Â The research channel will feature videos by The History Channel, A&E, NASA, Nova, and Harvard CS.Â The research channel will also harvest videos from other academic institutions.
Video enthusiasts, definetely keep your eyes peeled for all the upcoming features of PureVideo.
The return on investment made on YouTube’s funding through the acquisition definitely has whetted the appetite of investors. YouTube took in two rounds of funding from Sequoia Capital for a total of $11.5 million. So how come Brightcove, a lesser known Internet TV website is receiving such substantial funding? Brightcove started with $5.5 million and then received $16.2 million. Today, it was announced that Brightcove raised $59.5 million. This comes to a total of $81.2 million of total funding. The investors include Maverick Capital, The New York Times Company, Transcosmos Investments, Accel Partners, Allen & Company, America Online, General Catalyst Partners, The Hearst Corporation, IAC (InterActivCorp), and Brookside Capital.
“We think thereâ€™s a lot of opportunity outside the United States for Internet TV,” stated Adam Berrey, the VP President of Marketing of Brightcove. “We think this market will consolidate. Itâ€™s time for the leaders to emerge. This puts us in a good position.” Berrey didn’t mention what Brightcove is planning on doing for future plans, but according to TechCrunch, Brightcove did acquire metaStories on March 20, 2006. metaStories is a Seattle based company that has the tools that creates Flash content.
“Brightcove’s early success in partnering with media companies that are driving the transition of television and video distribution to the Internet puts the company in the right position as Internet TV takes off on a broader scale,” stated Jamie Kiggen, senior VP President of AllianceBernstein. “We’ve looked at many opportunities in this area and believe that Brightcove is well positioned for success in creating solutions that both media companies and consumers will embrace.”
With this new funding, Brightcove plans on growing the company and to provide Internet TV tools to media creators so that it would help them monetize as well as distribute their own videos. Brightcove is planning on launching ad revenue sharing soon.