Brightcove gets new execs and board members, expects profits in 2009

Brightcove, the Cambridge, Mass.-based online video platform company, announced several additions to its leadership team Monday, and CEO Jeremy Allaire sent a letter to Brightcove users detailing the company's progress and plans for 2009.

Former Adobe executive Jeff Whatcott joins the executive team as senior vice president of marketing, and former FAST Search and Transfer vice president of sales Mike Quinn joins as senior vice president of sales for the Americas. Another former Adobe executive David Mendels, and Lotus Development's Deb Besemer join the Brightcove board of directors.

The new leadership announcements coincide with Allaire's letter to customers, in which he reports the third consecutive year of triple-digit revenue growth for the company and a strong cash balance sheet, and predicts profitability for the company by the end of the year.

"This strong financial position also means that we are continuing to invest in our products and service, and general market expansion," Allaire wrote. "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."

Brightcove 3, the company's new online video platform, has seen substantial uptake from a wide range of industry verticals, according to the letter. In the letter, Allaire also said Brightcove would invest aggressively in service infrastructure and scale, while also updating the platform for reliability and performance. 

For more:
- see the personnel release here 

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