Mobile ad network Millennial Media will be listing its offering on the New York Stock Exchange, according to a new S-1 filing. The network, which filed its original S-1 in early January, aims to raise as much as $75 million in the offering. The company plans to list on the New York Stock Exchange under the symbol “MM.”
According to more recent stats from the filing, Millennial serves ads to 200 million unique users worldwide, including approximately 100 million unique users in the United States alone. More than 30,000 apps are enabled by developers to receive ads delivered by Millennial.
From 2009 to 2010, Millennial’s revenue increased 195% from $16.2 million to $47.8 million, and the company took a net loss of $7.6 million, and $7.1 million, in those years, respectively. From 2010 to 2011, revenue increased 117% from $47.8 million to $103.7 million. In 2011, the company saw a net loss of just $287,000.
While Millennial’s IPO is certainly not at the scale of Facebook, it’s definitely a win for the NYSE in its war with NASDAQ over tech company listings. Last year, NASDAQ got big listings for Zynga and Groupon, whereas NYSE got LinkedIn, and Pandora. In this year’s round of IPOs, Yelp chose the NYSE, and Brightcove went with NASDAQ. We’ll see which exchange Facebook chooses soon.
Millennial Media is the leading independent mobile advertising and data company. Millennial Media commands an impressive share of the mobile display advertising market. The company’s technology, tools and services also power some of the largest companies in the media business today. Millennial Media is committed to growing the mobile advertising marketplace by becoming the preferred partner to advertisers seeking to reach mobile consumers, application and media developers seeking to maximize ad revenue, and mobile operators seeking to further monetize...
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