Stay on Top of Enterprise Technology Trends
Get updates impacting your industry from our GigaOm Research Community
Brightcove’s (s BCOV) second earnings report as a public company went about as well as its first, with the video platform supplier reporting 41% revenue growth to $21.6 million.
Second-quarter losses narrowed 38 percent to $4.3 million. Meanwhile, the Boston-based company also announced that it has acquired cloud-based video encoding firm Zencoder for $30 million.
Zencoder, which raised $2 million in April, touts more than 1,000 customers, including TwitVid, PBS, Posterous and CollegeHumor, and its open source Video.js player is widely used.
“The acquisition of Zencoder not only strengthens our Video Cloud online video platform in a key technology area, but it also signals our expansion into standalone cloud services that developers can use as building blocks for custom systems,” said Jeremy Allaire, chairman and CEO of Brightcove, in a statement.
Brightcove reported 4,697 customers to end Q2, a 43 percent year-over-year increase. During the quarter, the company added 365 customers to its “express” service and 78 customers to its “premium” offering. New businesses included Parametric Technology, Quintiles, Chrysler and Princeton Review.
Shares of Brightcove were up 2.45 percent to 15.04 on the Nasdaq.