Online video platform Brightcove is going public. In an SEC filing on Monday, the company set the price range for their public offering: “Brightcove Inc is selling 5,000,000 shares of our common stock. This is our initial public offering and no public market currently exists for our shares of common stock. We anticipate that the public offering will be between $10.00 and $12.00 per share.”
According to Evelyn M. Rusli of the New York Times, “Brightcove’s debut – which at the midpoint of its price range will value the Web company at $290.1 million – will be a relatively modest offering. But it will help the market gauge investor demand for technology offerings ahead of Facebook’s much-anticipated multibillion-dollar I.P.O. later this year.”
Brightcove, which is currently one of the most popular platforms used by businesses for hosting and publishing online videos has 3,872 customers in over 50 different countries around the globe and employed 312 people in 9 countries at the end of 2011. Here are a few more company stats, according to the NY Times, as well as GigaOM’s Janko Roettgers:
- Brightcove’s annual revenue rose 48.5 percent in 2011, to $60.2 million. Despite this, they saw a net loss of $17.8 million. They have logged consolidated net loss each year for the last five years and expect to in 2012 as well.
- 66 percent of Brightcove’s 2011 revenue was generated in the US
- Brightcove customers served an average of 743 million streams per month last year
- Brightcove will trade on the NASDAQ under the ticker symbol BCOV
- Morgan Stanly and Stifel Nicolaus Weisel lead the offering, underwritten by Pacific Crest Securities, RBC Capital Markets and Raymond James
Image credit: ene via Shutterstock
Megan O’Neill is the resident web video enthusiast here at Social Times. Megan covers everything from the latest viral videos to online video news and tips, and has a passion for bizarre, original and revolutionary content and ideas.