Brightcove files $50 million IPO

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Brightcove, which supplies an online video platform to dozens of cable networks, says it hopes to raise $50 million through its initial public offering.

The Cambridge, Mass.-based company said it is counting on increased demand for online video content to lure investors. "Given the industry trends and the limitations of video-sharing sites and in-house solutions, we believe adoption of outsourced online video platforms will increase," Brightcove wrote in a filing at the Securities and Exchange Commission.

Brightcove's cable customers include A&E Television Networks, Discovery Communications, Lifetime Networks, Starz Entertainment, The Weather Channel,  and Turner Broadcasting.

For more:
- see story in FierceOnlineVideo

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