Brightcove files $50 million IPO
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.
- see story in FierceOnlineVideo