Brightcove, a Cambridge based software company, showed impressive performance when it went public on February 17th. Its IPO price began at $11 and had climbed to $14.30 by the end of the day, an increase of over 30% in its first day of trading. Five million shares were sold at the midpoint of its expected $10 to $12 range.
Brightcove was founded in 2004 and has targeted its services to companies interested in adding video to their websites. The creation and hosting of online video requires the capacity to store and serve large video files, and many companies would rather pay another company than host their own servers. At the end of 2011, Brightcove had over 3,800 customers in over 50 countries. It’s
customers include technology, government, retail, financial services, media, and nonprofit companies.
We are excited to see what other successes the future will bring for Brightcove!