Digital Dealmakers

Jeremy Allaire, CEO of Brightcove

The player: Jeremy Allaire, CEO of Brightcove.

The play: Brightcove is an online television technology provider with a soup-to-nuts business strategy that includes content management, syndication, advertising, distribution and analysis of online programming for content producers of all sizes.

Allaire

The pitch: To stand out in a crowded and competitive field, Brightcove is banking on its experience and comprehensiveness, Mr. Allaire said. “We were one of the very first companies to define this category and to build an end-to-end service that covered all the bases from programming to analytics to syndication,” he said.

In the mix: Brightcove counts more than 400 customers, including Fox, Speed, A&E, History, Lifetime, Showtime, Discovery, the New York Times, Dow Jones and the Washington Post, as well as TelevisionWeek. The Brightcove service is used by sites that collectively reach more than 135 million monthly unique visitors.

The money guys: One of the best-funded companies in the Web video business, Brightcove has secured more than $91 million from investors such as General Catalyst, Accel, AOL, Hearst, IAC and others. The company grew revenue by 500% last year and is on track to grow revenue 300% this year. Mr. Allaire said Brightcove expects to be profitable next year.

The backstory: Mr. Allaire developed the idea for Brightcove in 2002 when he was working as chief technology officer for Macromedia. He left that company in 2003 and raised initial funding to launch Brightcove in late 2004.

The pros: Demand for online video from both businesses and consumers is growing sharply. “We can ride that and grow with that,” Mr. Allaire said. Forrester Research expects online video ad spending to hit $989 million this year, up from $471 million last year.

The cons: Despite the growth, online video dollars remain a fraction of TV revenue. “One of the cons is the question of how big and how fast of a business online video will be for traditional broadcasters,” Mr. Allaire said.

Background: Mr. Allaire was born in Philadelphia and raised in Minnesota. He attended Macalester College, then founded Web services firm Allaire Corp. He sold that company to Macromedia. He also worked at General Catalyst before founding Brightcove. He lives in Boston with his wife and two children.

Who knew? An entrepreneur from a young age, Mr. Allaire started his first company when he was 13. Allaire Sports Cards would become a cash-flow engine to fund his discretionary expenses through college.

TrackBack

TrackBack URL for this entry:
http://www.tvweek.com/cgi-bin/mt/mt-tb.cgi/13505

Post a comment