Millennial Media files for IPO
By on January 6th, 2012

Millennial Media, the second largest player in the mobile advertising market after Google’s Admob, has just filed its S-1 documents. It will likely go public in 2012, and plans to raise around $75 million at a valuation of $700 million to $1 billion.

Millennial Media S-1 Filing – SEC

It competes primarily with Google’s Admob and Apple’s iAd mobile advertising network. It has been steadily increasing its market share in the past quarters, and with the capital raised in the IPO, it will be in a better position to compete with the two giants.

“That’s a momentous step for Millennial. It will give them the money to compete on a more equal footing with Google, and potentially expand internationally. It’ll allow Millennial Media to expand its market share and it would probably be at the expense of Apple,” said Karsten Weide, program vice president at research firm IDC.

Its revenues were around $48 million in 2010, and almost $70 million in the first three quarters of 2011. It hasn’t yet made a profit, but seems to be on track to generate a few million dollars in profit in 2012.

Apple recently brought on Adobe executive Todd Teresi to lead its iAd business, which has been faltering since Apple acquired Quattro. It stands third after Google and Millennial Media in terms of market share.

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Author: Pathik Google Profile for Pathik
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Pathik has written and can be contacted at pathik@techie-buzz.com.

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