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.