Millennial Media (MM) IPO Doubles on the Open
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The IPO for Millennial Media, Inc. (NYSE: MM) is open for trading. Shares opened at $25 after pricing 10.2 million shares at $13.
Morgan Stanley & Co. LLC, Goldman, Sachs & Co. and Barclays Capital Inc. are the joint bookrunners for the offering. Allen & Company LLC and Stifel Nicolaus Weisel are co-managers for the offering.
Millennial Media is the leading independent mobile advertising platform company. Our technology, tools and services help app developers and mobile website publishers to maximize their advertising revenue, acquire users for their apps and gain insight about their users. We offer advertisers significant audience reach, sophisticated targeting capabilities and the ability to deliver rich and engaging ad experiences to consumers on their mobile connected devices.
In February 2012, the comapny's platform reached over 300 million unique users worldwide, including approximately 140 million unique users in the United States alone. More than 30,000 apps are enabled by their developers to receive ads delivered through their platform, and the company can deliver ads on over 7,000 different mobile device types and models. The company's platform is compatible with all major mobile operating systems, including Apple iOS, Android, Windows Phone, Blackberry and Symbian. In February 2012, the company processed over 45 billion ad impressions.
The company posted revenues of $103.7 million in 2011, up from $47.8 million in 2010 and $16.2 million in 2009. The company posted a net loss of $5.3 million in 2011, versus a net loss of $10 million in 2009 and a net loss of $9.3 million in 2009.
Morgan Stanley & Co. LLC, Goldman, Sachs & Co. and Barclays Capital Inc. are the joint bookrunners for the offering. Allen & Company LLC and Stifel Nicolaus Weisel are co-managers for the offering.
Millennial Media is the leading independent mobile advertising platform company. Our technology, tools and services help app developers and mobile website publishers to maximize their advertising revenue, acquire users for their apps and gain insight about their users. We offer advertisers significant audience reach, sophisticated targeting capabilities and the ability to deliver rich and engaging ad experiences to consumers on their mobile connected devices.
In February 2012, the comapny's platform reached over 300 million unique users worldwide, including approximately 140 million unique users in the United States alone. More than 30,000 apps are enabled by their developers to receive ads delivered through their platform, and the company can deliver ads on over 7,000 different mobile device types and models. The company's platform is compatible with all major mobile operating systems, including Apple iOS, Android, Windows Phone, Blackberry and Symbian. In February 2012, the company processed over 45 billion ad impressions.
The company posted revenues of $103.7 million in 2011, up from $47.8 million in 2010 and $16.2 million in 2009. The company posted a net loss of $5.3 million in 2011, versus a net loss of $10 million in 2009 and a net loss of $9.3 million in 2009.
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