Updated below: Content delivery network Limelight Networks is debuting on Nasdad today under the symbol LLNW. It raised about $240 million, and priced 16 million shares at $15 per share. Net proceeds to the company are expected to be approximately $170 million.
Limelight raised $130 million in VC funding last year from GS Capital Partners (45.2 percent pre-IPO stake) and Oak Investment Partners (9.2 percent).
Updated: A good opening day for the company: shares of Limelight jumped 48 percent after its IPO, as investors bet demand will grow for its business delivering video for sites including ABC.com and Netflix, reports Bloomberg....stock rose $7.18 to $22.18 at 4 p.m. EST on Nasdaq.
Disclaimer: Limelight is a sponsor on paidContent.org.