Limelight Networks Inc (NASDAQ:LLNW) Reports Pricing Of Public Offering


Limelight Networks Inc (NASDAQ:LLNW) an international leader in digital content delivery, reported the pricing of a public offering of 15 million shares by certain selling stockholders associated with The Goldman Sachs Group Inc. for $4.60 a share. The company will not get any proceeds from the public offering. This offering is anticipated to conclude on December 5, 2017, subject to regular closing conditions.

The buzz

In unrelated news, a research report from Limelight stated that customers globally are spending increasingly more time online and are fast to avoid websites that offer dismal user experiences or have witnessed security breaches. The yearly global report, which underlines customer online behaviors and expectations, showed major jumps in time expended online and the impact of web experiences on consumer loyalty.

Globally, over 45% of people spend minimum 15 hours per week online, apart from work, a 64% jump from 2016. Smartphones are the main device utilized to access web content, and 56% of consumers globally anticipate fast web performance irrespective of what device they are utilizing.

Poor experiences often lead to eroded sales. Nearly half of global customers polled stated they will not wait over five seconds for an online page to load, while 43% percent would access a different site to perform a purchase if a site was extremely slow. Over 12% of customers polled will not re-visit a site after previously witnessing slow performance, double the count from 2016 survey.

Customers also seek to find if their information is being protected online. Over 75% have a negative stance of a brand after it has witnessed a security violation, and 40% stated they will not buy from an online platform that has been the prey of a cyber-attack.

Michael Milligan, the Senior Director at Limelight, expressed that in current crowded industry, brands can’t risk offering a poor web experience to their clients. Slow performance, security breaches and other fundamentals of an inefficient web experience impact a buyer’s actions.

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