We are very happy to announce several new additions to our executive team and board of directors. Jeff Whatcott, former vice president of marketing at Acquia and Adobe, has joined as senior vice president of marketing, and Mike Quinn, former vice president of sales with FAST Search & Transfer, has joined as senior vice president of sales for the Americas. In addition, long-time Adobe executive, David Mendels, and former BrassRing and Lotus Development Corporation executive, Deb Besemer, have joined our board of directors. These additions bring a wealth of experience and expertise to our team and we’re thrilled to have them on board. Click here to read the full press release.
Also today, Jeremy Allaire sent a letter to all Brightcove customers recapping highlights from 2008 and previewing some of what's in store for the New Year. The full text of the email is republished below.
Brightcove Year in Review and a Look Ahead
As we kickoff the New Year, I wanted to take a moment and send you an update on Brightcove and share some exciting developments walking into 2009.
2008 was a very strong year for Brightcove, despite the gloomy economic environment. As many of you know, this past fall we launched Brightcove 3, our next-generation online video platform. Customers from nearly every sector of industry and society are already using the new platform to improve how they entertain, educate, communicate, market and inform over the Web. I’m really excited about Brightcove 3, and hope all of you have had a chance to work with it.
Another exciting development in 2008 was our continued global growth in Europe and Asia. In Europe, we expanded beyond our UK headquarters with a new office in Germany. In Asia, we announced and launched the formation of a majority-owned subsidiary in Japan. Similar to North America, we’re finding that the broadband revolution is happening everywhere in the world and is bringing print and broadcast media companies, brand marketers, government entities, non-profit organizations, and educational institutions into the world of online video. Also, with Brightcove 3 we began our efforts to ‘globalize’ our service so that viewers and users can use our platform in any language, and we are starting to globalize our service operations and support as well.
In December, we also launched the Brightcove Alliance, a global ecosystem of technology, distribution and solution providers building on top of our platform and adding value for our customers. The Alliance launched with nearly 100 partners and we expect this number to grow significantly as we introduce training and certification programs, as well as revenue sharing programs for our partners and resellers. The Brightcove Alliance is very much the outgrowth of our efforts to open up our platform to developers and 3rd parties with a broad range of open APIs and developer toolkits. You can learn more about the Brightcove Alliance in the Partners section of our website. I’d encourage you to explore all of the innovative add-ons, plug-ins and solutions that are now available to you as a user of Brightcove 3.
Brightcove enters 2009 in a very strong market and financial position. For the third consecutive year, Brightcove has achieved triple digit revenue growth. We have a strong cash balance sheet and we’re on target to reach profitability this year. For Brightcove customers, our strong financial position and leadership in the online video platform category should help assure you of the safety of your investment in our solution.
This strong financial position also means that we are continuing to invest in our products and service, and general market expansion. While Brightcove 3 was the result of more than a year of effort, we are now moving into a steady stream of follow-on releases and innovations throughout 2009, with major releases planned for every quarter.
One of the areas where we are investing aggressively right now is in our service infrastructure and scale. As our customer base has more than doubled in the past year, and is an increasingly global customer base, we are making investments to ensure that our service is highly reliable and achieves industry-leading scale and performance. A large percentage of our R&D investments are focused in this area right now, and will ultimately translate into faster service and uploads, shorter maintenance windows, improved end-user performance, and greater uptime. These investments are already paying off - in Q4 we achieved 99.98% uptime, and deployed multiple major and minor releases with very limited service disruption.
We’re also investing in and evolving our leadership team. I’m very excited to announce several new additions to our team this year: Long-time Adobe executive David Mendels and former CEO of BrassRing and executive vice president of Lotus Development Deb Besemer have joined Brightcove’s board of directors. Former Acquia and Adobe vice president of marketing Jeff Whatcott and former Fast Search & Transfer vice president of sales Mike Quinn have joined the company’s executive team. Together, these additions provide a wealth of experience and expertise that will help fuel growth and expansion for Brightcove in 2009 and beyond. You can read more about these additions in this announcement from today.
Finally, walking into 2009, as an entire organization we are increasing our focus on engaging with and empowering our broad customer and end-user base. We started this effort with our recent Publisher and Developer community sites. These sites include in-depth articles, examples, blogs and forums to help educate our users and engage them in our customer community. You can visit these sites here: http://developer.brightcove.com and http://support.brightcove.com.
These sites are really just the kernels of much broader investments in our plan to provide more content, knowledge and customer communications throughout 2009. All of you are at the forefront of a broader revolution in how society communicates, markets, and entertains using broadband video, and you all bring unique insights, perspective and ideas to this market. We’d love for you to become active participants in creating content, sharing and communicating through these nascent sites and communities we are setting up.
I’m looking forward to seeing and discussing the results of all of your innovation and hard work this year. Please do not hesitate to reach out and provide your feedback to all of us here at Brightcove.
Founder, Chairman and CEO, Brightcove