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.
What's New for 2015?
You spoke, we listened! ClickZ Live New York (Mar 30-Apr 1) is back with a brand new streamlined agenda. Don't miss the latest digital marketing tips, tricks and tools that will make you re-think your strategy and revolutionize your marketing campaigns. Super Saver Rates are available now. Register today!
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.
Singapore, 3-4 November
Hong Kong, 8-9 December
Hong Kong, 8-9 December
Google My Business Listings Demystified
To help brands control how they appear online, Google has developed a new offering: Google My Business Locations. This whitepaper helps marketers understand how to use this powerful new tool.
5 Ways to Personalize Beyond the Subject Line
82 percent of shoppers say they would buy more items from a brand if the emails they sent were more personalized. This white paper offer five tactics that will personalize your email beyond the subject line and drive real business growth.