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Online video publisher Brightcove has filed for an initial public offering to raise up to $50 million, according to an S-1 form filed with the SEC.
Brightcove makes it possible for large and small content providers to publish video content to the web using HTML 5 rather than Adobe Flash. On top of standard video, the company also has live, on-demand and mobile-specific offerings.
The company’s customers include AOL, Oracle, Showtime, The New York Times, Philips Electronics, Macy’s, Honda and Bank of America.
Brightcove is steadily generating higher revenues each year. In 2008 it earned $24.5 million, and in 2010 it earned $43.7 million in revenues. Plus, the company earned $28.4 million in revenues in the first six months of 2011.
However, Brightcove is not yet a profitable company, and it doesn’t expect to be profitable until 2012. It most recently incurred a $9.7 million loss for the first six months of 2011.
Brightcove made news back in May by stepping into the mobile app creation business with its App Cloud product. App Cloud’s focus is to make it easier for developers to create mobile apps by streamlining the process using an online interface.
Cambridge, Mass.-based Brightcove has nearly 300 employees and was launched in 2004. It has raised more than $100 million from backers including Hearst Interactive Media, GE Commercial Finance, Accel Partners, Allen & Company, Brookside Capital and AllianceBernstein.
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