Video - Thursday, March 22, 2007
Net Video Boom Beneficiary Limelight Networks Files IPO
As expected, Limelight Networks has filed for an IPO. The Tempe, AZ-based content delivery network says it will seek to raise up to $201M in an IPO on the Nasdaq, underwritten by Goldman Sachs, Morgan Stanley, Jeffries, and Piper Jaffray. Limelight reported a loss of $3.7M on revenues of $64.3M in 2006.
Last July, Limelight raised $130M in funding, led by Goldman Sachs Capital Partners. Limelight competes head to head with Akamai as well as the smaller CDN Panther Express. Limelights strong suit is in video whereas Akamai's business is in faster transmission of all forms of Web media. Limelight clients include MySpace, YouTube, Facebook and Microsoft's XBox Live unit.
Our gut tell us that this IPO will take off. The company had to replace its CEO in advance of the IPO and seems to be making all the right moves with customers.
Read - Limelight Files IPO
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