Mobile ad network reported $69.1 million in revenue during the first nine months of 2011.
Mobile advertising network Millennial Media today filed for an IPO, underscoring the emergence of increased marketing to on-the-go consumers.
According to its filing with the Securities and Exchange Commission, Millennial reported $69.1 million in revenue during the first nine months of 2011, an increase of 137 percent over the same period in 2010. It had a net loss of $417,000 during the first nine months of 2011.
If the Baltimore, MD-based company's Q4 earnings are consistent with the earlier quarters, it would be on track to record $93 million in revenue for the entire year. Brand clients like Porsche, Patagonia, Jeep, Fox Home Entertainment, Benjamin Moore, and Samsung have helped Millennial achieve the staggering growth.
Millennial sells ads on mobile websites and apps. Its biggest competitors include Google, Apple, and InMobi.
With a company focused on mobile ad sales hitting Wall Street, it's another sign that digital marketing is growing up rapidly. In October, Google CEO Larry Page said his company's mobile revenues would hit $2.5 billion by the end of 2012. During September, InMobi picked up a $200 million round of funding from Softbank.
Millennial opened an office in the U.K. in 2010 and started operating in Singapore during late 2011; the company said it plans to further expand its international operations. It had 190 employees as of Sept. 30, 2011.
Twitter Canada MD Kirstine Stewart to Keynote Toronto
ClickZ Live Toronto (May 14-16) is a new event addressing the rapidly changing landscape that digital marketers face. The agenda focuses on customer engagement and attaining maximum ROI through online marketing efforts across paid, owned & earned media. Register now and save!
Christopher Heine was a senior writer for ClickZ through June 2012. He covered social media, sports/entertainment marketing, retail, and more. Heine's work has also appeared via Mashable, Brandweek, DM News, MarketingSherpa, and other tech- and ad-centric publications. USA Today, Bloomberg Radio, and The Los Angeles Times have cited him as an expert journalist.
Marketing Apps for Landing Pages White Paper
Marketing apps can elevate a formulaic landing page into a highly interactive user experience. Learn how to turn your static content into exciting marketing apps.
Redefining 'Mobile-Only' Users: Millions Selectively Avoid the Desktop
A new breed of selective mobile-only consumers has emerged. What are the demos of these users and how and where can marketers reach them?
March 19, 2014