Limelight Networks Starts Roadshow, Prices Shares For IPO
Limelight Networks has started its roadshow this week and investors have started calling asking for details on the content delivery market as a whole and what the competitive landscape looks like. Limelight has also set its proposed IPO terms and will be offering 14.4 million shares between $10-$12 a share. It plans to trade on the Nasdaq under the symbol LLNW.
The real question is what Limelight plans to do with the money once raised. Speculation is that they need to do some small acquisitions and increase their service offering by providing more in the way of content management and they clearly need to improve their media reporting options. Acquiring a company who has a content management solution is possible as there are a few small players on the market who could easily be taken out. But on the reporting side, there is not much on the market when it comes to reporting, so expect them to spend some of the newly raised capital to improving their own reporting product.
Everyone keeps asking, but I don’t know the date when they are going public. I don’t think an exact date is really decided till after the roadshow. But I’ll make a guess and say July 9th.