Rumor mill: Brightcove aiming for 2011 IPO

An array of recent hires at online video platform Brightcove has a number of tongues wagging about the company floating a possible IPO in the first half of 2011 and, according to Reuters, CEO Jeremy Allaire isn't saying "no."

Brightcove this week announced it had hired Chris Menard, who helped Phase Forward through several acquisitions, a successful IPO and, later, an acquisition by Oracle, as CFO. Brightcove CEO Jeremy Allaire said Menard's experience with acquisitions, another strategic priority of Brightcove, and his experience as a public company CFO that specialized, as does Brightcove, in a SaaS business, was a major plus.

Menard is one of several new additions at Brightcove including President and COO David Mendels, who came over from Adobe Systems in January, and former Macromedia CFO Betsey Nelson, who joined Brightcove's board.

"My expectation is that over the next year any number of large publicly traded Internet companies will try to get into this market either organically or through acquisition," Allaire told Reuters.

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