Envivio on Friday filed with the SEC for a $69 million IPO. The company, which was founded over a decade ago, has evolved from video encoding technology provider to a company that strives to make video content universally available on any device, any network, at the best possible quality.
In a statement, the San Francisco-based provider of on-demand IP video processing and delivery solutions notes that the number of shares to be offered, as well as the price range for the initial public offering of shares of its common stock, have not yet been determined.
Indeed, the proposed IPO price of $69 million is an estimate, which helps Envivio calculate the SEC registration fee. We’ll update as soon as we learn more.
Envivio says it currently works with 220 service and content providers for delivering an on-demand or live video service. For the 12 months ended January 31, 2011, the company booked just north of $30 million in sales, close to double the revenues logged the year before.
Net loss during fiscal year 2011 was $2.5 million, down from $9.2 million during fiscal year 2010.
The company plans to list on the NASDAQ under the symbol ENVI.