Limelight Prices High IPO

Limelight Networks Inc., a Tempe, Ariz.-based provider of a network for delivering live and on-demand digital media online, raised $240 million in its IPO. The company priced 16 million shares at $15 per share, after having originally filed to price 14.4 million shares at between $12 and $14 per share. It will to trade on the Nasdaq under ticker symbol LLNW, while Goldman Sachs and Morgan Stanley served as co-lead underwriters. Limelight raised $130 million in VC funding last year from GS Capital Partners (45.2% pre-IPO stake) and Oak Investment Partners (9.2%).