Tuesday, July 25, 2006

Limelight Raises $130 Million for Content Delivery Services

Limelight Networks announced a $130 million equity financing round for its content delivery network for digital media.

"Consumer demand for rich media delivered over the Internet -- video, music, games, and social media content -- has exploded over the past few years. This financing round, our first significant external equity financing, sets the stage for Limelight to continue expanding its infrastructure and capabilities to meet mounting market demand," said Bill Rinehart, President and CEO of Limelight Networks.

Limelight claims more than 600 of the world's top media companies as customers, including Akimbo, ABC Radio Networks, Belo Interactive, Brightcove, "BuyMusic" @ Buy.com, DreamWorks, LLC, Facebook, FOXNews.com, IFILM, ITV Play, Marimba, MSNBC.com, MySpace, NC Interactive, Real Networks Rhapsody, Radio Free Virgin, Valve Software, and Xbox Live.

Earlier this month, Limelight Networks reported strong growth in the second quarter of 2006, as revenue rose to over $14 million, an increase of nearly 40% from the first quarter of 2006 and over 200% from the same quarter last year.

The funding was led by Goldman Sachs Capital Partners. As part of the financing, representatives from Goldman Sachs will join the company's board of directors.



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