Brightcove Lays Off 15% Of Workforce
Online Video Provider Cuts 25 of 172 Employees
By Todd Spangler -- Multichannel News, 12/8/2008 3:11:00 AM
Internet TV platform provider Brightcove has cut 25 positions, or 15% of its total headcount of 172, with the company citing efforts to refocus around "key strategic priorities."
Brightcove said the changes are spread across the organization and not confined to any particular area.
"As we move into 2009, we have reconfigured the Brightcove team around our key strategic priorities, and this has involved some staffing adjustments," the company said in a statement.
The layoffs were first reported Friday by fierceonlinevideo.com.
Privately held Brightcove, founded in 2004, has raised $91 million in funding. Investors include Accel Partners, Time Warner Inc.’s AOL, AllianceBernstein, Brookside Capital, General Catalyst Partners, Hearst, InterActiveCorp., The New York Times Co., Maverick Capital and Transcosmos.
Brightcove’s media customers include AOL, Discovery Communications, Fox’s Fuel TV, MTV Networks, Showtime Networks, Lifetime Networks and Cablevision Systems’ Rainbow Media.
On Monday, Cambridge, Mass.-based Brightcove announced the expansion of its partner program to 80 companies, which provide a range of technologies and services for the company’s video publishing and management system.
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