Rovio’s Angry Birds Toons may very well be the first-ever mobile video show that reaches an audience of millions – but that doesn’t mean that startups are having it any easier.
The fragmentation of the mobile environment into proprietary development platforms threatens the overall app economy by straining the labor market, says Brightcove CEO Jeremy Allaire. He argues Facebook’s move away from HTML5 is driven by self-interest.
The Boston-based video platform supplier reported $21.6 million in revenue for its second quarter as a public company, while losses narrowed by 38 percent to $4.3 million. Brightcove also announced the $30 million purchase of cloud-based video encoding company Zencoder.
Here’s our daily pick of stories about Apple from around the web you shouldn’t miss. Today’s installment: the young, spendy Apple demographic, how design patents have become essential, Sprint’s curious sales woes at Apple stores, Airplay as Trojan horse, and conflicting reports of Verizon iPhone sales.
Announcing its first quarterly earnings report since it went public in February, video platform Brightcove said earnings were up 53 percent to $19.9 million, while losses were down 26 percent to $4.3 million.
Brightcove used to have significant staff in China, and was looking to expand in the country as late as March 2010 – but left China head over heels later that year. What’s left is Brightcove’s staff, now working for a local competitor, and the question: What happened?
Brightcove’s stock fared well on its IPO day, with shares trading at $14.30, which is 30 percent above the issue price of $11. Brightcove raised a total of $55 million with its IPO, issuing a total of 5 million shares.
Brightcove just reiterated its desire to go public with an amended SEC filing. The company could raise as much as $59 million as it sells 5 million shares, but its filing also reveals that making money with online video is really, really hard.
The new breed of e-commerce sites offers consumers ways to socialize and be entertained. But as Rags Gupta of Brightcove points out, these new new commerce sites are taking advantage of old principles. Their innovation comes from introducing them online.
Brightcove isn’t just about video distribution anymore. It’s providing a new, cloud-based approach to creating mobile apps for iOS and Android devices. The new App Cloud product could provide a helpful new revenue stream, just as Brightcove is preparing for an IPO.