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February 17, 2012 at 13:50 PM EST
Brightcove Stock Jumps 37% In Cloud IPO
Shares of Brightcove (BCOV) jumped 32% on its first day of trading Friday. Brightcove provides services that customers use to publish videos online, using a cloud-based platform. The Cambridge, Mass.-based company raised $55 million by selling 5 million shares at $11 each. Shares opened at 14.50 and have traded as high as 15.76 Friday. Shares were back near 15.05 in afternoon trading, up 37%. Brightcove reported revenue of $28.3 million for the
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