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Web-video management startup Brightcove announced Monday that it had secured an additional $12 million in venture funding and hopes to make its first public offering as soon as next year. As we reported Monday, the first quarter of 2010 saw a significant rise in IPO and M&A activity for venture-backed companies, and Brightcove seems to preparing itself for one of these options in the next year. Sponsor Josh Hawkins, director of corporate communications for Brightcove, mentioned on the company's blog that the new funding would be used toward "expansion in Asia and Europe, the rollout of new product lines like Brightcove Express on a worldwide basis, R&D innovation, and possible M&A activity." Brightcove has three offices in the U.S. as well as offices in England, Spain, Germany, China and Japan. Much of its strategy for 2010 seems to be focused on expanding its presence in these regions, possibly by using some of its fresh cash to buy out upstart companies in those areas. The Wall Street Journal reports that the company also plans to use what could be their final round of funding to build runway before going public, and that it could see revenues as high as $50 million in 2010. The news of Brightcove's plans to go public is further evidence of the rebounding M&A and IPO market that we mentioned on Monday , especially if investors are willing to pump money into the web-video industry which has seen less than stellar revenues. Brightcove also can serve as an excellent example for young startups looking for an IPO or buyout day of their own in the future. The company is not sitting back and hoping the day comes that it can go public or be acquired; it is making sure they have the proper capital to continue to innovate and grow its company to that point. The company realizes that being able to go public is not entirely about having a steady revenue stream, but it is also about carving out a significant portion of its market by expanding its current products and creating new ones. Just last week the company announced it was launching a service to allow its customers to create iPad-compatible HTML5 based video players , keeping the company on the cutting edge of video management. Last year rumors circulated that Google was in talks to buy Brightcove, but the rumors were later revealed to be false . It seems they weren't far off, however, as Google just last week announced it had acquired video service Episodic . Google, which has been picking up companies left and right in 2010 , could be signaling an impending consolidation within the web-video industry with their recent purchase and rumored interest in Brightcove. Brightcove appears to be hunkered down with its new funding and is ready for future prosperity, a strategy every startup should recognize and attempt to emulate in their future rounds of funding. Followers of Internet startups have been waiting for a major IPO for a few years and Brightcove could provide that in the next twelve months. Discuss
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Brightcove Closes Series D Funding, Expects IPO By 2011
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Earlier tonight, the Paley Center hosted a discussion about social media and digital activism with celebrated artist, architectural designer, activist and blogger Ai Weiwei , Twitter co-founder Jack Dorsey and ReadWriteWeb's editor and founder Richard MacManus. The discussion touched upon a large variety of topics related to social media and digital activism in China, including translating Twitter into Chinese and Google's exit from the Chinese market. Sponsor Jack Dorsey joined the conversation via satellite from San Francisco. The conversation was moderated by Emily Parker, the Arthur Ross Fellow at the Asia Society's Center on U.S.-China Relations, who is currently working on a book about China and the Internet. To start out the discussion, MacManus pointed out that it was the read/write aspect of the Internet that spawned the growth of social networks like Facebook and Twitter over the last few years. In the Western world, this development allowed users to connect and express their thoughts freely. In China, however, even though the same tools are available as in the West, a lot of them are currently blocked and censored. In addition to this, Ai Weiwei noted that sites like YouTube, Facebook and Twitter, as well as TV channels like CNN, are currently blocked in China. Even though there are a number of Facebook and Twitter clones in China, Ai Weiwei argued that those companies work within the framework that the Chinese government has set for them with regards to what users can say on these services. Ai Weiwei's name, for example, can never be used on these sites without getting censored. Indeed, said Ai Weiwei, using Twitter in China is "very physical and dangerous." Translating Twitter Asked about the reason for Twitter's popularity among netizens, Ai Weiwei noted that services like Twitter and blogs are easy to use, but once he got too popular, his blog was quickly shut down. Even though Twitter has a 140-character limit, Twitter's users in China can easily express in-depth thoughts because the Chinese language allows Twitter users to express 140 words on Twitter and not just 140 characters. With regards to how Twitter is being used in China, Ai Weiwei noted that the most active Twitter users in China often use the service for political and philosophical discussions. Jack Dorsey, after recapping the basic history of Twitter and his fascination with maps, and open, public databases, noted that messages on Twitter, even though they are often trivial, do show that "we are human" and remind us that we are all the same. Twitter, which he called a utility, was extended by the user and the developer ecosystem that grew up around it. Internet users across the world can now use it to communicate, talk to their governments, build a business and create political movements. Ai Weiwei told Dorsey that the "Chinese people think you are some kind of God" because Twitter allows people to express themselves without worrying about censorship. A lot of the discussion with Jack Dorsey focused on had to do with what Twitter can do to to help its users in China. Ai Weiwei directly asked Dorsey why Twitter doesn't provide its users a Chinese-language version of Twitter. According to Dorsey, it is just a question of time and mostly a technological issue. Given Twitter's problems with scaling the service, making it work for every character set creates some issues for Twitter because of the legacy framework that Twitter established in its early days. Currently, the company doesn't really have the resources to devote to this. Doresey did, however, argue that users already know how the service is meant to work and understand the setup of the Twitter page. Dorsey also noted that Twitter isn't sure that it really wants to move into the Chinese market, but would like to offer a Chinese translation of its service at some point. Indeed, Dorsey noted that he wasn't even aware that Twitter was blocked in China until just a few weeks ago. Censorship and Twitter MacManus then asked Ai Weiwei if the Chinese government couldn't just censor Twitter or force Twitter to censor its service. Ai Weiwei, however, pointed out that Twitter could easily translate Twitter's registration page to help Chinese users. He noted that he isn't asking Twitter to set up an operation in China - he just wants Twitter to make the service easier to use for Chinese users and to translate large parts of the service. The Internet companies in China, as MacManus noted, tend to "self-discipline" themselves and censor their own content. MacManus wondered what would happen to a Chinese language version of Twitter, and if it wouldn't just get blocked and censored just like other international services. Ai Weiwei noted that a lot of international companies that would like to enter the Chinese market have a responsibility to not give up on basic human rights. While the discussion didn't go into depth with regards to the issues surrounding Google's exit from China, MacManus noted that Google was one of the few Western services that entered the Chinese market, even though it faced a strong Chinese competitor. According to MacManus, leaving the Chinese market was a "brave move" by Google that sends a strong message that these companies are willing to stand up to the Chinese government. Twitter's Moral Responsibility Twitter and other technology companies have, said Dorsey, a responsibility to follow basic moral guidelines, and in his view, many technology companies have helped to push the messages of the U.S. government (and other governments) forward with regards to acknowledging human rights violations in China. Asked specifically if companies do have a moral responsibility, Dorsey said that Twitter - as a company - is focused on opening information as completely as possible and wants to ensure that everybody can participate in the conversations on the service. Twitter, which according to Dorsey was founded around the principles of immediacy and transparency, allows users to create a shared experience among users around the world and create more empathy. Towards the end of the discussion, Dorsey said that Twitter is just a tool and that it can't change any governments itself, but that it is the users who can use it to change governments. As MacManus noted during the discussion, it is people like Ai Weiwei that are using these tools effectively. One day, Ai Weiwei noted towards the end of the discussion, we won't need tools like Twitter to change our governments anymore. Discuss
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Digital Activism in China: A Discussion Between Ai Weiwei, Jack Dorsey and Richard MacManus
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On March 15, at the prestigious Paley Center in New York City, a conversation will take place between Chinese digital activist and artist Ai Weiwei , Twitter co-founder and chairman Jack Dorsey , and yours truly Richard MacManus (ReadWriteWeb founder and editor in chief). The moderator will be Orville Schell , the director of the Center on U.S.-China Relations at the Asia Society in New York. The topic of the event is the emergence of digital activism for fostering positive social change. The onsite event is invitation only, but it will be live streamed exclusively on ReadWriteWeb on Monday, March 15, at 6:30 PM EST, from the Paley Center for Media, New York City. Sponsor The Central Question of the event is: what is the relevance of new social networking technologies in our culture and society; and how can we use these tools for digital activism in order to foster positive social change, particularly in China? You can start the discussion about it now on Twitter, using the hashtag #aiweiwei . We would also love to hear your thoughts on the topic via the comments here on ReadWriteWeb. To this end, shortly we will launch a special webpage that aggregates media and real-time conversation leading up to this event. Ai Weiwei and Digital Activism in China ReadWriteWeb has been actively covering events in China this year, in particular Google's struggle to effect change regarding censorship in China. So I'm personally thrilled to join the conversation with these 3 smart and influential people: Ai Weiwei, Jack Dorsey and Orville Schell. Ai Weiwei is undoubtedly the star attraction. He is China's leading digital activist and a pioneer in the use of blogging and Twitter in China. He's also a renown international artist and architect. In the early 2000s, he collaborated with Swiss architects Herzog & de Meuron on the famous "Bird's Nest" design of the National Stadium for the Beijing Olympics. Ai Weiwei later renounced that design as a "pretend smile" from the Chinese government. Here is a video that explains more about Ai Weiwei's art and digital activism: Further Details About the Event This historic event will be streamed live from the prestigious Paley Center for Media in New York City, enabling an audience of thousands around the world to view and listen - as well as participate in the discussion. The live conversation on stage will be shaped in part by the digital commentary around it, which itself is part of the ongoing global conversation about social media and social change. ReadWriteWeb is driving much of the online component of this event. Stay tuned for more details on that next week. Date: Monday, March 15, 2010 Time: 6:30 - 8 p.m. (Eastern Time) Venue: Paley Center for Media 25 E. 52nd Street New York, NY 10019-6129 Details About the Participants This information comes from the Paley Center website : Ai Weiwei is a conceptual artist, curator, architect, social commentator, and activist. He was born in 1957 into the domestic political exile of his father, the noted modernist poet Ai Qing. Ai Weiwei's birthright was simultaneously one of a cultural insider and a political outsider, and he quickly perceived the contradictions of his condition. Ai Weiwei's art has been shown in museums and galleries internationally. As a curator, he is known for cutting-edge exhibitions. In the early 2000s, he collaborated with the acclaimed Swiss architects Herzog & de Meuron on the winning design for the National Stadium project for the Beijing Olympics, popularly known as the "Birds Nest," which he later renounced as a "pretend smile." Ai Weiwei has never sought foreign citizenship and maintains his credibility among a devoted Chinese following as a highly active blogger, with his finger on the pulse of modern China. Unafraid to spotlight injustices, he has documented the arbitrary conviction and swift execution of alleged cop-killer Yang Jia in Shanghai, investigated shoddy school construction in Sichuan, and led a movement to oppose the nationwide installation of Internet filtering software in new computers. He is critical of one-party rule and government corruption, as well as the nationalist tendencies of China's citizenry, which allow state power to go unchecked. As a result his blogs are shut down, his home studio is under surveillance, and he's had to have cranial surgery for injuries sustained during a recent altercation with local police in Sichuan. Jack Dorsey is the creator, cofounder, and chairman of Twitter, Inc. Originally from St. Louis, Jack's early fascination for mass-transit and how cities function led him to Manhattan and programming real-time messaging systems for couriers, taxis, and emergency vehicles. Throughout this work Jack witnessed thousands of workers in the field constantly updating where they were and what they were doing; Twitter is a constrained simplification designed for general usage and extended by the millions of people who make it their own every day. Jack is dedicated to creating public goods which foster approachability, immediacy, and transparency, and is starting a second company named Square focused on bringing these concepts to commerce. Richard MacManus is the founder and editor in chief of ReadWriteWeb, one of the most popular and influential technology blogs in the world. New Zealander MacManus founded ReadWriteWeb in 2003 and grew his blog about the evolving Internet into an international team of journalists. ReadWriteWeb is read by millions of thought leaders and consumers, and is syndicated daily by the New York Times. From the early days of blogging, social networks and YouTube to the future of machine learning, aggregate data analysis and other meta-trends, MacManus is widely recognized as a leader in articulating what's next in technology and what it means for society at large. Orville Schell is the director of the Center on U.S.-China Relations at the Asia Society in New York. He has written fourteen books, including nine on China, and is at work on an interpretation of the last one-hundred years of Chinese history. He was a Fellow at Columbia University's Graduate School of Journalism and the recipient of many prizes and fellowships, including a Guggenheim Fellowship, the Overseas Press Club Award, and the Harvard-Stanford Shorenstein Prize in Asian Journalism. Prior to assuming his position at Asia Society, he served as Dean of the Graduate School of Journalism at the University of California, Berkeley. Discuss
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Historic Conversation in NYC: Ai Weiwei, Jack Dorsey & Richard MacManus
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