Brightcove Inc., a Boston company known for its Internet video platform and online video tools, said that David Mendels, currently its president and chief operating officer, will become chief executive at the end of its first quarter.
Jeremy Allaire will continue to serve in his role as chief executive during this transition period and will become executive chairman of the board at the beginning of the second quarter of 2013, at which time he will continue to be actively involved in the company’s strategic planning, product development and key customer relationships, the company said.
The announcement was included in a company press release about its fourth-quarter and full year financial results.
A Globe story from last year noted that Brightcove has a number of media customers, including The New York Times Co., The Boston Globe, The Weather Channel, and Conde Nast; The Times Co. - which owns the Globe and its websites Boston.com and BostonGlobe.com - also held a small stake in Brightcove.
Brightcove said that total revenue for the fourth quarter of 2012 was $24.3 million, an increase of 31 percent from the same quarter a year ago.
Net loss attributable to common stockholders was $4.7 million, or $0.17 per basic and diluted share, for the fourth quarter of 2012. This compares to a net loss attributable to common stockholders of $5.2 million, or $1.02 per basic and diluted share, for the fourth quarter of 2011.
In a statement, Allaire said: “Brightcove ended 2012 on a strong note, with our fourth quarter results once again exceeding our revenue and profitability guidance. 2012 was an exciting year for Brightcove. We consistently exceeded our financial objectives, acquired Zencoder, significantly expanded our product footprint and value proposition, added over a thousand customers to our Video Cloud platform including some of the world’s largest media companies, and successfully completed our initial public offering.”