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Millennial Media’s IPO Price Revealed

Our friends in Baltimore at Millennial Media have been very quiet lately. The second largest mobile ad network (and the largest independent mobile ad network) in the world has been in their SEC mandated “quiet period” gearing up for an initial public offering (IPO).

Earlier on Millennial had reported that they expected their share price for their IPO to be in the $9 to $11 range however yesterday they upgraded that to $11 to $13 per share. They are hoping to raise $122 million with the IPO.

Millennial Media was founded by CEO Paul Palmeri who is a veteran of the mobile industry. Before Millennial Media Palmeri worked for Verizon Wireless where he was instrumental in the creation of the V-Cast platform. The V-Cast platform started as a place to buy wallpapers, ringtones and basic phone games. It eventually evolved adding ring-back tones and other content. Now V-Cast is a full blown app store.

More after the break

Millennial Media is the largest independent ad network in the world. They are second in overall networks behind AdMob which is owned by Google. They are also notably, the only ad network that is not tied to a manufacturer or OS directly.

They offer simple to use SDK’s for developers and work with everyone from the run of the mill “Fred in the shed” developer to major development houses like EA games. Some of their rich media clients include top names in food, movie studios and car manufacturers.

Millennial was founded in 2006 and last year did $104 million dollars in overall mobile ad placements. They are based in Baltimore’s swank Canton neighborhood downtown and just finished a major renovation in their building which now occupies two entire floors. They’ve also won numerous digital ad awards.

Millennial Media is also known for their monthly mobile mix report which provides a monthly snapshot of actual phone users by providing analytical information from the actual devices that touch the ad network. They are also very developer centric and have offered great tips here like this.

source: VB

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