Brightcove Files $50 Million IPO
Online video platform company Brightcove announced it had filed with the SEC to go public, and is looking to sell $50 million worth of common stock.
No price range on the IPO has been given yet.
Here is the company's S-1 that it filed with the SEC this morning.
Brightcove, based out of Cambridge, MA, offers cloud-based solutions for publishing and distributing video.
The company is growing sharply, as revenues grew from $24.5 million for 2008 to $43.7 million for fiscal year 2010. The company said first half revenues were $28.4 million.
With close to 300 employees, the company has some major customers for its services. It has almost 3,300 customers, which includes The New York Times (NYSE: NYT), Oracle (NASDAQ: ORCL) and others.
Morgan Stanley, Stifel Nicolaus, RBC Capital Markets, Pacific Crest Securities, and Raymond James are underwriting the deal.
It will trade on the NASDAQ with the ticker “BCOV”.
