US ad giant could bag a $75m war chest.
Millennial has made a regulatory filing and hired Morgan Stanley, Goldman Sachs and Barclays to manage the float.
The firm was founded in 2007 and has moved into the premier tier of a very competitive space, attracting $65 million in venture capital in the process. It grossed $69 million in the first nine months of 2011, but has yet to post a profit.
IDC estimates that Millennial would end 2011 with a 17 per cent share of the US mobile ad market. The firm is less well established outside of the States, but is currently growing its teams in London and Singapore.
Presumably, it will use the IPO cash to further expand worldwide and to invest in tech to compete with well-heeled rivals such as Google/AdMob, InMobi, Adfonic and Buzz City.
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Mobile is hot and there are so many acquisitions taking place due to the demand for mobile. Millenial Media has been one fo the pioneers for a while in the mobile ad space, great to see them growing just as the market is as well.
Glen Suh
www.tapit.com
Glen Suh Jan 6th 2012 at 6:35PM
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