Another day, another CDN is getting a big cash infusion. Earlier this week we reported that Cachelogic was close to finalizing a $25 million investment. And now there is news that Seoul, South Korea-based CDNetworks is getting a massive $96.5 million infusion from Oak Investment Partners, Shinhan Private Equity and Goldman Sachs International.
The company, which trades on KOSDAQ, is going to use this new cash for global expansion. Last time we met with CDNetworks, they were pretty serious about taking a piece of the U.S. market. As part of this investment, they’re going to issue 5.3 million new shares, with Oak getting about 2.35 million shares. “The additional funding will help CDNetworks fortify our Asian market leadership and our service offerings, while accelerating our entry into the United States and other new markets,” said Samuel Ko, founder and CEO of CDNetworks, in a press statement.