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Edgecast

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Edgecast Networks, Inc.
FormerlyVerizon Digital Media Services (2016–2021)
Company typeSubsidiary
IndustryInternet
FoundedAugust 2006; 18 years ago (2006-08)
DefunctJune 16, 2022; 2 years ago (2022-06-16)
FateAcquired by Limelight Networks
SuccessorEdgio
Headquarters
Los Angeles, California
Key people
Alex Kazerani
(CEO & Founder)
James Segil
(President & Founder)
Phil Goldsmith
(CRO & Founder)
Jay Sakata
(CTO & Founder)
Lior Elazary
(Chief Research Officer & Founder)
Number of employees
200+ (2012)[1]
ParentYahoo! Inc. (2021–2022)
ASN15133 Edit this at Wikidata
WebsiteArchived official website at the Wayback Machine (archived 2022-01-15)

Edgecast Networks, Inc. (formerly Verizon Digital Media Services)[2] was a subsidiary of Yahoo! Inc. and provider of content delivery network (CDN) and video streaming services. Founded in 2006, it was notable for being a self-provisioning CDN technology used by the telecommunication and hosting industries.[3][4][5]

On June 16, 2022, Edgecast was acquired by Limelight Networks and was rebranded as Edgio.[6]

History

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Edgecast Networks, Inc. was founded in 2006 and received funding from the venture arm of The Walt Disney Company, Steamboat Ventures. It was headquartered in Los Angeles, California.[7][8]

On December 9, 2013, the boards of directors of Verizon Communications and Edgecast each approved Verizon's acquisition of Edgecast and the deal was closed on December 23, 2013.[9][10]

Between 2013 and 2016, Edgecast Networks was a subsidiary of Verizon as part of the Verizon Digital Media Services group, among upLynk LLC and others.[11]

In 2017, Verizon Digital Media Services, Inc. (VDMS) became part of Oath Inc., which was rebranded Verizon Media on January 8, 2019. In September 2021, VDMS was rebranded as Edgecast following the Apollo Global Management purchase of 90% stake of Verizon Media, which in turn became the current incarnation of Yahoo! Inc.

On March 7, 2022, Limelight Networks announced its intention to acquire Edgecast for approximately $300 million. Once the deal is approved, the companies will jointly rebrand as Edgio.[12] The acquisition was completed on June 16, 2022 and the company was rebranded as Edgio.

The company was rated the third in the CDN industry by the Yankee Group in August 2009,[13] and turned EBITA positive in Q2 of 2009.[14] Edgecast was ranked 13th on the Deloitte Fast 500 list for North America 2012.[15]

Uplynk

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Uplynk, stylized as upLynk, was a Los Angeles–based startup company founded in 2010 that created video-streaming services, notably used by Disney–ABC Television Group.[16] As of January 2013, it had 10 employees and was self-funded; at that time, Disney Interactive Media Group's technology SVP Skarpi Hedinsson remarked, "The upLynk platform offers significant operational efficiency and simplifies the process of reaching audiences on any device or platform while maintaining a high quality viewing experience."[16] It was acquired by Verizon Digital Media Services on November 13, 2013,[17][18] reportedly for greater than $75 million.[19]

References

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  1. ^ "EdgeCast - CDN Planet". CDN Planet. Retrieved December 20, 2012.
  2. ^ "EdgeCast compared to Level3". www.cdnoverview.com. Warpcache BV. Archived from the original on June 8, 2018. Retrieved June 8, 2018.
  3. ^ Chappell, C.: May 30, 2009 “CDNs The Business Case” Archived September 23, 2015, at the Wayback Machine
  4. ^ Rayburn, D.: Aug 11, 2009 “The Future of the CDN Market” www.streamingmedia.com Archived February 8, 2010, at the Wayback Machine
  5. ^ Gubbins , E.: Aug 13, 2009 “Carriers, standalone CDNs squeeze one another" telephonyonline.com
  6. ^ "Limelight Completes Acquisition of Yahoo's Edgecast; Combined Company Rebrands as Edgio Creating a Global Leader in Edge-Enabled Solutions". Business Wire. Retrieved December 11, 2022.
  7. ^ White, Bobby (December 10, 2007). "Disney's Steamboat Invests In Content-Delivery Firm". The Wall Street Journal. Retrieved February 26, 2021.
  8. ^ Munarriz, R. A.: “The Mouse Nibbles Away at Akamai,” The Motley Fool, Dec 11, 2007]
  9. ^ "Verizon Plans to Acquire EdgeCast Networks". newscenter.verizon.com. December 9, 2013. Archived from the original on August 12, 2014. Retrieved June 7, 2018.
  10. ^ "Key Acquisitions Position Verizon Digital Media Services as One-Stop Shop". www.verizon.com. January 6, 2014. Retrieved June 7, 2018.
  11. ^ "Verizon Is Acquiring Content Delivery Network EdgeCast For More Than $350 Million – TechCrunch". techcrunch.com. December 7, 2013. Retrieved June 7, 2018.
  12. ^ Rayburn, Dan (March 7, 2022). "Limelight To Acquire Edgecast From Apollo Funds For $300M, Rebrand As Edgio". Seeking Alpha. Retrieved March 11, 2022.
  13. ^ Adkoli, J.: Aug 21, 2009 “EdgeCast Bags Third Position in Yankee Group's 2009 CDN Scorecard” www.tmcnet.com
  14. ^ Rayburn, D. (Oct 14, 2009) “Content Delivery Network EdgeCast Now Profitable, EBITA Positive Since Q2" www.blog.streamingmedia.com
  15. ^ EdgeCast Networks Makes it to Deloitte’s 2012 Technology Fast 500 List for North America Archived June 12, 2018, at the Wayback Machine CDN-Advisor.com, November 17, 2012
  16. ^ a b Takahashi, Dean (January 16, 2013). "Uplynk creates a cheap and efficient way for Disney to stream videos". VentureBeat. Retrieved February 26, 2021.
  17. ^ "Verizon Digital Media Buys upLynk". Zacks Equity Research. November 13, 2013. Retrieved February 26, 2021 – via Yahoo! Finance.
  18. ^ "Verizon Digital Media Services Acquires upLynk Assets and Operations for Expanded Video Streaming Capabilities". New York: Verizon Communications. November 13, 2013. Retrieved February 26, 2021.
  19. ^ Kafka, Peter (November 14, 2013). "Verizon Stocks Up on "TV Everywhere" Tech by Buying upLynk". AllThingsD. Retrieved February 26, 2021.
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