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 NYT, Oracle 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”.