Edgio, previously known as Limelight Networks, officially went offline on January 15, 2025, following its Chapter 11 bankruptcy filing in September 2024. The company’s financial difficulties stemmed from mismanagement, failed acquisitions, and operational issues.
In November 2024, Akamai Technologies acquired customer contracts from Edgio’s security and content delivery business. However, the deal excluded Edgio’s technology, personnel, and network assets, resulting in the discontinuation of its services.
Furthermore, Lynrock Lake Master Fund LP, Edgio’s primary lender, has submitted a $110 million stalking horse bid for the company’s assets and provided $15.6 million in financing to support operations during the sale process. The shutdown underscores the challenges faced by companies in the highly competitive CDN market.
Edgio was launched in 2022 after Limelight Networks acquired Edgecast, but the integration faced significant challenges, including the loss of key personnel and underutilized infrastructure, which ultimately hindered its performance.