& cplSiteName &

Envivio Pulls the IPO Trigger

Jeff Baumgartner
LR Cable News Analysis
Jeff Baumgartner
4/25/2012
50%
50%

Envivio Inc. (NASDAQ: ENVI) launched its IPO, a year in the making, on Wednesday, but shares in the streaming video company fell 51 cents (5.7%) in their debut, ending the day at $8.49.

It's trading on Nasdaq under the "ENVI" ticker. (See Envivio Goes for IPO Glory .)



San Francisco-based Envivio sold 7.75 million shares at $9 each for a grand total of $69.75 million. Envivio's underwriters, led by Goldman Sachs & Co. , have a 30-day option to buy up to 1.16 million additional shares of common stock.

Envivio specializes in video processing, transcoding and encoding software that sits on standard servers and targets TV Everywhere deployments. Time Warner Cable Inc. (NYSE: TWC), sources confirmed, uses Envivio's platform to stream live TV to iPads, iPhones and iPad Touches; PCs and Macs; and, more recently, to certain Android devices. (See TWC Streams Live TV to Androids.)

According to Envivio's latest Securities and Exchange Commission (SEC) filing, the company recorded a profit of $659,000 on revenues of $50.6 million for the year ended Jan. 31, 2012. That's up from a year-earlier loss of $1.98 million on revenues of $30 million. It ended fiscal 2012 with cash and cash equivalents of $76.8 million.

Envivio's largest customer is Time Warner Cable, accounting for 18 percent of total revenue in the most recent fiscal year, followed by channel partners Huawei Technologies Co. Ltd. and Birtel Network Technologies (both 12 percent) and Ericsson AB (Nasdaq: ERIC) (11 percent). Although a U.S. MSO tops that list, Envivio , whose roots are traced to Orange (NYSE: FTE), generated 71 percent of its fiscal 2012 revenues from outside the U.S.

Envivio is not exactly what you'd call a fresh-faced startup, as it was founded in 2000. Some of its primary competitors include Harmonic Inc. (Nasdaq: HLIT), RGB Networks Inc. and Cisco Systems Inc. (Nasdaq: CSCO) (via its acquisition of Inlet Technologies.). Of that group, RGB remains private, but has IPO ambitions. (See Cisco Paints Inlet Into Its Videoscape and RGB Raids Envivio .)

— Jeff Baumgartner, Site Editor, Light Reading Cable

(1)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
Jeff Baumgartner
50%
50%
Jeff Baumgartner,
User Rank: Light Beer
12/5/2012 | 5:35:03 PM
re: Envivio Pulls the IPO Trigger


Of the $69.75M raised, $58.5M of it will land in Envivio's hands. JB

Featured Video
From The Founder
Light Reading founder Steve Saunders talks with VMware's Shekar Ayyar, who explains why cloud architectures are becoming more distributed, what that means for workloads, and why telcos can still be significant cloud services players.
Flash Poll
Upcoming Live Events
May 14-16, 2018, Austin Convention Center
May 14, 2018, Brazos Hall, Austin, Texas
September 24-26, 2018, Westin Westminster, Denver
October 9, 2018, The Westin Times Square, New York
October 23, 2018, Georgia World Congress Centre, Atlanta, GA
November 7-8, 2018, London, United Kingdom
November 8, 2018, The Montcalm by Marble Arch, London
November 15, 2018, The Westin Times Square, New York
December 4-6, 2018, Lisbon, Portugal
All Upcoming Live Events
Hot Topics
I'm Back for the Future of Communications
Phil Harvey, US News Editor, 4/20/2018
BDAC Blowback – Ex-Chair Arrested
Mari Silbey, Senior Editor, Cable/Video, 4/17/2018
Verizon: Lack of Interoperability, Consistency Slows Automation
Carol Wilson, Editor-at-large, 4/18/2018
AT&T Exec Dishes That He's Not So Hot on Rival-Partner Comcast
Mari Silbey, Senior Editor, Cable/Video, 4/19/2018
Facebook Hearings Were the TIP of the Data Iceberg
Dan Jones, Mobile Editor, 4/20/2018
Animals with Phones
I Heard There Was a Dresscode... Click Here
Live Digital Audio

A CSP's digital transformation involves so much more than technology. Crucial – and often most challenging – is the cultural transformation that goes along with it. As Sigma's Chief Technology Officer, Catherine Michel has extensive experience with technology as she leads the company's entire product portfolio and strategy. But she's also no stranger to merging technology and culture, having taken a company — Tribold — from inception to acquisition (by Sigma in 2013), and she continues to advise service providers on how to drive their own transformations. This impressive female leader and vocal advocate for other women in the industry will join Women in Comms for a live radio show to discuss all things digital transformation, including the cultural transformation that goes along with it.

Like Us on Facebook
Twitter Feed