Brightcove looks to raise $55 million in IPO

In an SEC filing today, the online video distribution company sets the price range for shares of its upcoming IPO at $10 to $12.

Lance Whitney/CNET

Facebook isn't the only one.

Brightcove today filed its amended S-1 with the SEC, setting the price range for shares of its upcoming IPO at $10 to $12. If its 5 million shares sell at the midpoint of its asking price, the company stands to raise around $55 million.

Brightcove is an 8-year-old online video distribution company that boasts 3,872 customers in more than 50 countries, but 66 percent of its $63.6 million in 2011 revenue came from the U.S. And despite its solid customer base, Brightcove also has a number of healthy competitors, including Castfire and Ooyala.

Prior to setting its IPO, Brightcove raised more than $100 million from a number of venture capital firms, including Accel Partners, one of the largest shareholders in Facebook. The social-networking juggernaut filed its S-1 last week, aiming to raise about $5 billion.

Brightcove will be listed on the NASDAQ under the symbol BCOV.

Featured Video

Why do so many of us still buy cars with off-road abilities?

Cities are full of cars like the Subaru XV that can drive off-road but will never see any challenging terrain. What drives us to buy cars with these abilities when we don't really need them most of the time?

by Drew Stearne