Limelight Networks Raises $240M In IPO

Tempe, Arizona-based Limelight Networks raised $240M in its IPO Thursday, selling 16 million shares of its stock at $15 per share. The firm's stock began trading on the Nasdaq as LLNW this morning, and was up over 50% in trading this morning having opened at $23. The firm's backers include by Goldman Sachs and Oak Investment Partners. Limelight Networks operates a content delivery network (CDN) which delivers multimedia over the Internet.