Limelight IPO Seeks to Raise $198M

Limelight Networks has set the price for its initial public offering (IPO), with the hopes of raising as much as $198.7 million. Tempe, Arizona-based Limelight said it would offer 14.4 million shares at a range of $10 to $12 each, according to documents filed with the U.S. Securities and Exchange Commission. Limelight, a content delivery network (CDN), houses servers in many of Switch & Data's colocation centers. Limelight plans to trade on the NASDAQ under the symbol LLNW.

Limelight's customers include many of the world's top media companies, including Akimbo, Belo Interactive, Brightcove, Buy.com, DreamWorks, Facebook, FOXNews.com, IFILM, MSNBC.com, MySpace, Valve Software, and Xbox Live.