Friday, June 8, 2007

Tempe's Limelight shares soar 62% after IPO


Bloomberg News
Jun. 8, 2007 08:34 AM

Shares of Limelight Networks Inc. jumped as much as 62 percent after its initial public offering, as investors bet the company will build a business delivering video for Web sites including ABC.com and Netflix.

Limelight stock rose $7.98 to $22.98 at 11:24 a.m. New York time in Nasdaq Stock Market trading, under the symbol LLNW, after rising as high as $24.33. About 16 million shares were sold yesterday at $15 each, netting the Tempe, Arizona-based company $187.5 million before expenses. Read More at AZCentral

2 comments:

Jeannie Nguyen said...

Limelight Networks Inc. is forecasted to have a prosperous future. Did you know that BusinessWeek recently named Tempe the best city in Arizona to start a business?

http://images.businessweek.com/ss/09/03/0327_smallcity_startups/4.htm

They use ZoomProspector data to determine the list-- here is the Tempe page on ZoomProspector:

http://www.zoomprospector.com/CommunityDetail.aspx?id=4198&f=1

www.ZoomProspector.com

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