Limelight Networks Shares Open At $23: Market Cap Well Over A Billion

FRIDAY: As of about 11:30am, Limelight's shares have started trading and opened at $23. That values them at well over a billion dollars. Also, Limelight Networks has launched a new version of their website.

THURSDAY: As I expected, Limelight Networks has priced its shares higher than the original estimate in their prospectus. Thursday night, Limelight announced that its initial public offering of 16,000,000 shares of common stock has been priced at $15.00 per share. Shares of Limelight Networks' common stock will begin trading on June 8, 2007 on the Nasdaq Global Market under the symbol LLNW. This gives them an enterprise value over over a billion.

Note: I don't own any shares of Limelight Networks.

Comments

[Mark Alan Effinger]

Just as I suspected... $23 makes much more sense. $15 was just plain low for a company with Limelight Networks' fundamentals.

This ought to be a fun ride. With that extra financial pool to work from, they could give Akamai a serious run.

Mark Alan Effinger
http://www.RichContent.tv

[Steve Lerner]

Nice to see the path, set down by our work at Speedera, followed by others.

Speedera was purchased for 12M Akamai shares which gave a value of about $552M in today's dollars. But this was without the dilution of massive investment like other companies has, so the shareholders did very well.

Limelight are a great company but do have their work cut out for them- its a competitive business with some tough competitors.

Can't wait to see how things turn out as new CDNs appear.