While some companies choose to remain private forever, for others, deciding to go public is only a matter of choosing the optimal time. After raising $12 million in funding last month, bringing its total funding to $103.9 million, and reporting positive cash flows since last June, Cambridge’s Brightcove Inc. has announced that it is taking steps towards an IPO sometime next year. (Image courtesy: http://bit.ly/aIZge8)Brightcove runs an online video publishing service that offers the simplicity of “point and click” video posting as well as the option for advanced users to fine-tune how their videos display by editing programming code. After posting, Brightcove provides in depth analytics information to help its users track the performance of their videos.
The announcement of the proposed 2011 IPO came as a surprise to many, considering that in just February of this year, Brightcove’s CEO, Jeremy Allaire, was quoted saying that an IPO was not imminent. Currently, annual sales for the company are projected to be in the area of $50 million for 2010. According to the Brightcove’s blog, with its most recent $12 million in funding, it plans to increase “growth initiatives... in Asia and Europe,” as well and finance research and development.
Presently, Brightcove has users in over thirty countrie
s and offices in Cambridge, Seattle, New York, London, Hamburg, Barcelona, Bejing, and Tyokto. Sun Microsystems, Ticketmaster, The New York Times, and General Motors are just a handful of Brightcove’s big-name customers. (Image courtesy: http://bit.ly/aIZge8)Of course, a lot can change in a year, but if the projections for Brightcove’s future hold true, the company should have little trouble following through on its proposed 2011 IPO. Given the incredible growth rate of the online video market, potential investors will definitely want to watch for newas about the specifics of the IPO as the date grows nearer.
[Sources: http://bit.ly/aIZge8, http://bit.ly/a7l7Yw, http://bit.ly/9W1edg]
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