& 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
The 'gleaming city on a hill,' Steve Saunders calls it. But who is going to take us from today's NFV componentry to the grand future of a self-driving network? Here's a look at the vendors hoping to make it happen.
Flash Poll
Upcoming Live Events
September 28, 2017, Denver, CO
October 18, 2017, Colorado Convention Center - Denver, CO
November 1, 2017, The Royal Garden Hotel
November 1, 2017, The Montcalm Marble Arch
November 2, 2017, 8 Northumberland Avenue, London, UK
November 2, 2017, 8 Northumberland Avenue – London
November 10, 2017, The Westin Times Square, New York, NY
November 30, 2017, The Westin Times Square
All Upcoming Live Events
Infographics
With the mobile ecosystem becoming increasingly vulnerable to security threats, AdaptiveMobile has laid out some of the key considerations for the wireless community.
Hot Topics
Why Amazon May Be Cable's Biggest Threat
Mari Silbey, Senior Editor, Cable/Video, 9/22/2017
Could 5G Have Found Its Glass Ceiling?
Dan Jones, Mobile Editor, 9/20/2017
Can Fixed Wireless Fix Rural Broadband?
Mari Silbey, Senior Editor, Cable/Video, 9/25/2017
1 Million Pirate Set-Top Boxes Sold in the UK
Aditya Kishore, Practice Leader, Video Transformation, Telco Transformation, 9/20/2017
Comcast Shuts Down OTT Again
Mari Silbey, Senior Editor, Cable/Video, 9/19/2017
Animals with Phones
Dog Training for the Important Stuff Click Here
We're done with "Fetch" and "Sit." How about "Spreadsheet!"?
Live Digital Audio

Understanding the full experience of women in technology requires starting at the collegiate level (or sooner) and studying the technologies women are involved with, company cultures they're part of and personal experiences of individuals.

During this WiC radio show, we will talk with Nicole Engelbert, the director of Research & Analysis for Ovum Technology and a 23-year telecom industry veteran, about her experiences and perspectives on women in tech. Engelbert covers infrastructure, applications and industries for Ovum, but she is also involved in the research firm's higher education team and has helped colleges and universities globally leverage technology as a strategy for improving recruitment, retention and graduation performance.

She will share her unique insight into the collegiate level, where women pursuing engineering and STEM-related degrees is dwindling. Engelbert will also reveal new, original Ovum research on the topics of artificial intelligence, the Internet of Things, security and augmented reality, as well as discuss what each of those technologies might mean for women in our field. As always, we'll also leave plenty of time to answer all your questions live on the air and chat board.

Like Us on Facebook
Twitter Feed