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US online video specialist Brightcove has filed for an initial public offering (IPO) of up to 5mn of its shares.

The Cambridge, Massachusetts-based company has set the price range at US$ 10 to US$ 12 per share, meaning that it expects to make at least US$ 50mn from the process.

Brightcove has appointed Morgan Stanley and Stifel Nicolaus Weisel to run the IPO, and has applied to trade on the Nasdaq under the symbol "BCOV".

The company can irrefutably claim to be one of the leading providers of online video platforms, with 3,782 customers spread across more than 50 countries, including some of the world's biggest shopping, entertainment and media brands, such as Fox, The New York Times and Warner Music Group.

However, it struggles to break even: the company posted a US$ 17.3mn loss for 2011 on revenues of US$ 60.2mn, and warns that these losses are likely to continue in 2012 amid mounting marketing and operational expenses.

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