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Networking - Friday, June 8, 2007

Limelight IPO Above Range

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Akamai-rival Limelight Networks has the Internet video craze to thanks for its smooth IPO. It raised about $240M, priced 16M shares at $15 per share under the symbol LLNW.

Limelight raised $130M in VC funding last year from Goldman Sachs, which owned a 45.2% pre-IPO stake and Oak Investment Partners at 9.2%.

Revenue in 2006 came in at $64.343M as compared to 2005 at $21.3M . Cost of revenue for 2006 was $35.978M as compared to 2005 at $11.888M.

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