Cambridge, Mass. – Shares of Brightcove, a Cambridge, Mass.-based provider of digital media distribution services, surged over 30 percent from $11 to over $14.60 as of mid-afternoon on Friday, the company’s first day of public trading.
Brightcove, whose products include an online video platform, raised $55 million in its initial public offering.
The company has more than 3,600 customers in 50 countries. Brightcove was founded in 2004. Its investors include AllianceBernstein, Brookside Capital, Maverick Capital, The New York Times Co., Accel Partners, and General Capital Partners, among others.
This article was also published in New England Tech Wire.
Related links:
Reuters – Brightcove glitters on debut; competition worries
Bloomberg – Brightcove Advances as Cloud-Based Video Hoster Raises $55 Million in IPO
Forbes – Brightcove Shares Spike On First Day Of Trading
Associated Press – Brightcove stock surges in first day of trading
Photo by Flickr user Helico, used under Creative Commons license
