Edgio

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Edgio, Inc.
FormerlyLimelight Networks, Inc. (2003–2022)
Company typePublic
Nasdaq: EGIO
IndustryContent delivery
PredecessorEdgecast
Founded
  • 2001; 23 years ago (2001) (as Limelight Networks)
  • June 16, 2022; 2 years ago (2022-06-16) (as Edgio)
FoundersNathan F. Raciborski, Michael M. Gordon, Allan M. Kaplan, William H. Rinehart[1]
HeadquartersTempe, Arizona
Key people
Todd Hinders (CEO, Jan 2, 2024)
RevenueUS$ 230.2 million (2020)[2]
Number of employees
Approx 610[3]
ASN
Websiteedg.io

Edgio, Inc., evolved from Limelight Networks, a 20-year provider content delivery services to stream digital content over the internet. Following a 2022 acquisition of Edgecast, the company re-branded as Edgio and has grown to offer a full suite of edge-enabled applications that run on the company's globally scaled network. These applications include video workflow and automation, website acceleration, and cyber security. As of January 2023, the company's network has more than 300 points-of-presence and delivers with 250+ terabits[4] per second of egress capacity across the globe.

Company history

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Limelight Networks logo

Edgio was founded in 2001 in Tempe, Arizona as Limelight Networks, a provider of content delivery network services. The company's Limelight Orchestrate Platform[5] delivers Live and On-Demand video and online content to any connected device anywhere in the world.

In July 2006, the company closed a $130 million equity financing round led by Goldman Sachs Capital Partners.[6] Limelight Networks later raised $240 million in an initial public offering, during June 2007, selling 16 million shares at $15.[7] In April 2008, company founder Michael Gordon was recognized as a "Streaming Media All-Star" by StreamingMedia Magazine, for his contributions to the industry.[8]

Over the years, Limelight has received several other awards for its services including, receiving Frost & Sullivan's prestigious award for Product Line Strategy in 2012.[9] Forrester Research named Limelight a Strong Performer in The Forrester Wave™: Online Video Platforms, Q1 2013.[10]

In October 2017, Limelight Networks was recognized on Streaming Media's List of "100 Companies that Matter Most in Online Video".[11]

In January 2021, Limelight Networks and its board of directors announced that Bob Lyons has been named as the new president and CEO of Limelight Networks, Inc. and will join the company and the board of directors effective February 1, 2021.[12] Mr. Lyons was formerly CEO of Alert Logic.

In September 2021, Limelight Networks acquired Moov Corporation, which did business as Layer0. The acquisition of Layer0 added website orchestration and workflow products, now part of Edgio's Applications suite.

On June 16, 2022, Limelight Networks completed the acquisition of Edgecast from Yahoo! Inc.[13] and rebranded itself to Edgio. The acquisition of Edgecast expanded the reach of Edgio's global delivery network, and also added enterprise-class security solutions to the product portfolio. Additionally, Edgecast brought the Uplynk product - a video workflow and orchestration tool for the streaming of live and on-demand events. Following this acquisition, Edgio developed two distinct offerings - its Applications suite, consisting of website orchestration and cybersecurity solutions; and its Media suite, consisting of media delivery on its global edge network and video streaming solutions.

Edgio had received several industry accolades. In November 2022, an Industry Analyst firm, Quadrant Knowledge Solutions, conducted research into the commercial content delivery network services marketplace and named Edgio as a Leader in the 2022 SPARK Matrix Report.[14][15]

In March 2023, another leading Industry analyst firm, IDC, categorized Edgio as a Major Cloud Platform for Cloud-Native PaaS Solutions.[16]

In early June 2023, Frost & Sullivan assessed the holistic web protection platform industry and based on its findings, recognized Edgio with the 2023 Global Customer Value Leadership Award.[17][18]

In late June 2023, GigaOm, a technology focused analyst firm and media company, awarded Edgio the Leadership and Outperformer position in its latest GigaOm Radar for Edge Platforms v3 Report.[19] Edgio was recognized as the leader in the graphic and several tables, and defined as a platform player with maturity within the market.[20]

In July 2023, Edgio was recognized as a Leader in the Frost Radar: Global Content Delivery Network, 2023, by research and consulting firm Frost & Sullivan.[21][22]

On 9 September 2024, Edgio filed for Chapter 11 bankruptcy protection. The company plans to sell its assets to Lynrock Lake LP, a private equity firm, for around $110 million.[23][24] Akamai Technologies purchased Edgio's customer contracts and patents among assets.[25]

Technologies

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Simplified Video on Demand Model

Edgio operates its own private network with more than 250+ terabits per second of global egress capacity. The network consists of dense clusters of specially configured servers in more than 300 delivery locations (points-of-presence) which are interconnected through the company's global network and connected to more than 1000 Internet service provider (ISP) networks. Edgio caches web content for its customers in multiple delivery locations around the world, serving it to users from the fastest location. A private fiber network backbone between its delivery locations allows cache-fill traffic and dynamic content to bypass the public internet and improve the delivery speed of content. This architecture is managed by intelligent proprietary software that increases the speed of delivery with fewer cache misses and can scale to handle surges in end-user demand. Edgio networks mainly uses FreeBSD as operating system on their infrastructures[26].

The Edgio Platform

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The Edgio Platform is composed of services including content delivery, video packaging and content management, web acceleration, cloud security (including DDoS and WAF protection), and cloud storage.

Customers

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In August 2007, the company announced a technology and services agreement with Microsoft under which Limelight will help improve the performance, scalability, and reliability of Internet delivery of media content and online services, including video, music, games, software, and social media, across Microsoft's global Internet properties.[27] In March 2008, the company was the infrastructure provider for the webcast of Oprah's "A New Earth" classroom series,[28] featuring author Eckhart Tolle. The live event drew over 800,000 users. The server crashed during the event because of an error in the programming code; the crash was widely misreported as a failure of network infrastructure.[29]

In May 2008, NBC announced that the company would be the content delivery network for the 2008 Summer Olympics webcast on NBCOlympics.com.[30] Ultimately, the company delivered "more than 50 million unique visitors, resulting in 1.3 billion page views, 70 million video streams, and 600 million minutes of video watched" for NBCOlympics.com, using Microsoft Silverlight technology.[31][32]

In June 2008, the company was the primary source of content delivery services for the online debut of Disney's Camp Rock. The 24-hour online event saw more than 863,000 total plays for the movie.[33] In January 2009, the company delivered the inauguration of U.S. President Barack Obama to 2.5 million Internet viewers around the world, resulting in more than 9 million simultaneous multimedia streams overall flowing through the company's network.[34] Later that year, in March, the company was the exclusive mobile content delivery provider for CBS' coverage of the 2009 NCAA tournament. Limelight Networks' technology was used to deliver coverage of the college basketball games to the Apple iPhone.[35]

In 2012, Limelight helped deliver sporting events like the Wimbledon Tennis Championships, the Indian Cricket League, the European Championship and the RBS Six Nations’ rugby championships and helped several broadcasters deliver the 2012 Summer Games.[36][37]

Described and Captured Media Program, a non profit educational organization uses Edgio to accelerate distribution by caching videos on servers as close to the user as possible.[38]

In February 2017 Limelight was one of three content delivery networks to stream the NFL's Super Bowl.[39]

Acquisitions

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  • May 2009, the company acquired Kiptronic, Inc., a privately held provider of device-optimized content delivery solutions[buzzword] and dynamic advertising insertion.[40] It exists today as the Orchestrate Video offering.
  • April 2010, the company acquired EyeWonder, Inc., a privately held provider of rich media advertising (or "interactive digital advertising") founded in 1999 for $110 million.[41] As part of the purchase of EyeWonder, Limelight Networks, Inc. also purchased chors GmbH. Both of these businesses, which consisted of the EyeWonder business unit, were later sold to DG.
  • August 2011 the company acquired Delve Networks, Inc., a privately held provider of cloud-based video publishing and analytics services.[42] It exists today as the Orchestrate Video offering.
  • May 2011, the company acquired AcceloWeb for $20 million. It exists today as the Orchestrate Performance offering.
  • May 2011, the company acquired Clickability,[43] a web content management system company, for $10 million. On December 23, 2013, Upland Software announced that they had acquired Clickability from Limelight.[44]
  • September 2021, the company acquired Moov Corporation,[45] doing business as Layer0, a provider of sub-second web apps and APIs through an all-in-one Jamstack platform.
  • June 2022, the company acquired Edgecast from Yahoo! Inc. for approximately $300 million.[46]

Patent lawsuits

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In June 2006, Limelight Networks was sued by Akamai Technologies and the Massachusetts Institute of Technology over alleged patent infringement.[47][48][49] In April 2009, the District Court for the District of Massachusetts ruled that Limelight Networks did not infringe,[50] overturning the February 2008 finding of a Boston jury.[51] Similarly, in December 2007, Limelight Networks was sued by Level 3 Communications over alleged intellectual property and patent infringement.[52] In January 2009, a jury ruled that Limelight Networks did not infringe.[53][54] Akamai Technologies appealed part of the decision. On April 20, 2011, the United States Court of Appeals for the Federal Circuit granted the petition by Akamai Technologies for rehearing en banc its appeal in Akamai Technologies, Inc. v. Limelight Networks, Inc. The order vacated the earlier opinion of December 20, 2010. The order includes a request to file new briefs addressing this question: If separate entities each perform separate steps of a method claim, under what circumstances would that claim be directly infringed and to what extent would each of the parties be liable?[55]

On August 31, 2012, the Court of Appeals for the Federal Circuit issued its opinion in the case. The Court of Appeals stated that the trial court determined that Limelight did not directly infringe on Akamai's patent. A slim majority in this three-way divided opinion also announced a revised legal theory of induced infringement, remanded the case to the trial court giving Akamai an opportunity for a new trial to attempt to prove induced infringement. On December 28, 2012, Limelight filed a petition asking the Supreme Court to review the decision of the Federal Circuit regarding the standard for induced infringement in cases where multiple parties may perform various steps of a patented claim. Akamai filed a cross petition asking the Court to also review the standard for direct infringement in those cases. On June 24, 2013, the Supreme Court asked the Solicitor General to weigh in on the petition for certiorari.[56] In June 2014, the Supreme Court reached a unanimous decision rejecting Akamai's claim of "induced infringement".[57]

On July 1, 2016, it was announced that the Massachusetts District Court entered the final judgment in the case, with Limelight paying $51M in total damages to Akamai (to be reflected in Limelight's 2016 Q2 earnings).[58]

See also

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References

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  2. ^ "Limelight Networks, Inc. (LLNW) Company Financials". Limelight Networks. Retrieved June 24, 2021.
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  7. ^ "Limelight: Return of the First-Day IPO Pop". June 10, 2007. Retrieved May 31, 2017.
  8. ^ Schumacher, Eric. "The 2008 Streaming Media All-Stars". Streamingmedia.com. Archived from the original on June 16, 2008. Retrieved July 14, 2012.
  9. ^ Frost & Sullivan Lauds Limelight for its Expansive Product Innovation and Capability, Beyond the Scope of a Traditional Online Video Platform
  10. ^ Forrester Wave Report: Q1 2013
  11. ^ Schumacher-Rasmussen, Eric (October 11, 2011). "Streaming Media 100: The One Hundred Companies that Matter Most in Online Video - Streaming Media Magazine". Streaming Media Magazine. Retrieved October 2, 2017.
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  14. ^ "Edgio Named a Leader in the 2022 SPARK Matrix Analyst Report". edg.io. February 9, 2023. Retrieved July 13, 2023.
  15. ^ Solutions, Quadrant Knowledge. "Edgio Positioned as the Leader in the 2022 SPARK Matrix for Commercial Content Delivery Network Services by Quadrant Knowledge Solutions". www.prnewswire.com (Press release). Retrieved July 13, 2023.
  16. ^ "Edgio Included in New IDC Report Outlining Priority Considerations for Cloud Platform Capabilities". edg.io. Retrieved July 13, 2023.
  17. ^ Weinkauf, Ashley (June 21, 2023). "Edgio Applauded by Frost & Sullivan for Offering Customer Value via Holistic Web Protection Platform amidst an Expanding Cloud Attack Surface". Frost & Sullivan. Retrieved July 13, 2023.
  18. ^ "2023 Award Recipients". Frost & Sullivan. Retrieved July 13, 2023.
  19. ^ adellcairns (June 20, 2023). "GigaOm Radar for Edge Platforms-226742-Edgio". Gigaom. Retrieved August 17, 2023.
  20. ^ adellcairns (June 20, 2023). "GigaOm Radar for Edge Platforms-226742-Edgio". Gigaom. Retrieved August 17, 2023.
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  22. ^ Winship Comollo, Sally. "Edgio Recognized as a Leader in Content Delivery Networks by Frost & Sullivan". Edgio Press Release.
  23. ^ "Apollo-Backed Software Maker Edgio Seeks Bankruptcy Protection". Bloomberg. September 9, 2024. Retrieved September 9, 2024.
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  28. ^ "A New Earth: Are You Ready to be Awakened?". Oprah.com. January 30, 2008. Retrieved July 14, 2012.
  29. ^ "Shelly Palmer: Oprah's Webcast: State-of-the-Art, But Not What You Think". HuffingtonPost.com. March 7, 2008. Retrieved July 14, 2012.
  30. ^ Donohue, Steve. "NBC Banks on New Technology for Olympics". Contentinople. Archived from the original on 2011-01-03. Retrieved 2012-07-14.
  31. ^ Katz, Leslie (January 17, 2009). "Microsoft's Silverlight: Yes, we can". CNET News. cnet.com. Retrieved July 14, 2012.
  32. ^ Fried, Ina (July 31, 2008). "What it takes to bring the Olympics to the PC". International.com.com. Retrieved July 14, 2012.
  33. ^ "The Walt Disney Internet Group - Press Release". disney.go.com. June 26, 2008. Retrieved May 31, 2017.
  34. ^ Rayburn, Dan (January 27, 2009). "Limelight To Akamai: "My Network Is Bigger Than Your Network", The Debate Begins". StreamingMediaBlog.com. streamingmedia.com. Retrieved July 14, 2012.
  35. ^ Frommer, Dan (March 20, 2009). "Limelight Picking Up Steam In Mobile Video". BusinessInsider.com. Retrieved July 14, 2012.
  36. ^ "Limelight Networks Helps Stream Various Global Sports Events". CDN Advisor. July 27, 2012.
  37. ^ LLNW Press Release: Limelight Brings Live Action of World's Largest Sporting Events to Global Fans, July 26, 2012.
  38. ^ "Yes, Virginia, there's a CDN service for everyone". SearchNetworking. Retrieved October 2, 2017.
  39. ^ "Fox Prepares for Super Bowl Streaming Challenge | Multichannel". www.multichannel.com. Retrieved October 2, 2017.
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  41. ^ "Limelight Networks Closes on EyeWonder Acquisition". llnw.com. May 3, 2010. Archived from the original on May 7, 2010. Retrieved July 14, 2012.
  42. ^ "Limelight Networks® Acquires Online Video Publishing Innovator Delve Networks". Archived from the original on January 1, 2011. Retrieved May 31, 2017.
  43. ^ Johnston, Mike (May 3, 2011). "Clickability acquired by Limelight Networks". cmscritic.com. Retrieved August 30, 2013.
  44. ^ "Upland Software Acquires Clickability Web Content Management Business". uplandsoftware.com. December 23, 2013. Archived from the original on May 2, 2014. Retrieved May 1, 2014.
  45. ^ Networks, Limelight. "Limelight Networks Completes Acquisition Of Layer0". www.prnewswire.com (Press release). Retrieved October 20, 2021.
  46. ^ Rayburn, Dan (March 7, 2022). "Limelight To Acquire Edgecast From Apollo Funds For $300M, Rebrand As Edgio". Seeking Alpha. Retrieved March 11, 2022.
  47. ^ "Boston Globe, July 15, 2006 - Akamai, MIT hit Limelight with patent suit - Companies are rivals in Net content delivery". Boston.com. July 15, 2006. Retrieved July 14, 2012.
  48. ^ "GigaOM, July 11, 2006 - Akamai Sues Limelight Networks". Gigaom.com. July 11, 2006. Retrieved July 14, 2012.
  49. ^ UNITED STATES DISTRICT COURT DISTRICT OF MASSACHUSETTS. "AKAMAI TECHNOLOGIES, INC., et al. v. LIMELIGHT NETWORKS, INC. ORDER REGARDING CLAIM CONSTRUCTION" (PDF). Archived from the original (PDF) on August 21, 2013. Retrieved February 21, 2008.
  50. ^ "Court Rules Limelight Networks™ Does Not Infringe Akamai Patent". [permanent dead link‍]
  51. ^ "Updated: Akamai Prevails In Court Over Limelight; $45 Million Award; Limelight Shares Crushed — Tech News and Analysis". Paidcontent.org. March 1, 2008. Retrieved July 14, 2012.
  52. ^ "Level 3 Communications, LLC v. Limelight Networks, Inc. - 2:2007cv00589 - Justia Federal District Court Filings and Dockets". Dockets.justia.com. December 17, 2007. Retrieved July 14, 2012.
  53. ^ "Limelight Networks Found Not to Infringe on Level 3 Patents". Archived from the original on January 1, 2011. Retrieved May 31, 2017.
  54. ^ Ando, Ritsuko (January 23, 2009). "Jury says Limelight did not infringe Level 3 patents". Reuters.
  55. ^ Schwegman, Lundberg; Woessner, P.A. (April 25, 2011). "Petition Granted for Rehearing en banc of Akamai Technologies v. Limelight Networks". The National Law Review. Retrieved September 8, 2012.
  56. ^ LLNW Form 10-Q for the period ending June 30, 2013.
  57. ^ "Supreme Court Rejects Expanded Inducement Doctrine". June 2, 2014. Retrieved May 31, 2017.
  58. ^ "Akamai wins patent lawsuit, with rival forced to pay $51M". Boston Business Journal.
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