Cambridge media company outperforms IPO

Brightcove, a Cambridge, Massachusetts-based platform for delivery of online video, began trading its post-IPO stock on NASDAQ at $14.50 per share, Boston Business Journal reports.

The company originally priced 5 million shares in its IPO at $11 per share, hoping to raise $55 million. Its value currently sits at around $380 million.

Brightcove is backed by two firms - one venture capital firm in Boston located in Cambridge, and another in Palo Alto, California. Each holds 21.4 percent of the company.

According to Mass High Tech, Brightcove intends to move its office to an 82,000 square-foot Atlantic Wharf complex in Boston by April. It also plans to expand its staff by 120 people.

Brightcove offers solutions for media, brand marketers, retailers, government entities and non-profits, small businesses and agencies, its website states. For instance, brands can use Brightcove's technology to increase awareness and find new audiences, motivate viewers with calls to action and build customer loyalty with quality content.

KLR is one of the largest CPA firms in Boston, and offers assistance to venture capital firms. These include internal audit assessments as well as international tax services and specialized tax services such as cost segregation, research and development and energy studies. Due diligence for buyers and preparedness for sellers can also be provided during the acquisition process.