Millennial Media prepares to go public
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US— Millennial Media, a mobile advertising and data company, has filed registration forms with the Securities and Exchange Commission (SEC) regarding a proposed public offering of common stock.
The firm, which collects and analyses data from mobile users to help advertisers and app developers understand and market to mobile audiences, has not yet indicated how many shares will be issued and at what target price.
Cash raised through the share sale will be used for working capital and general corporate purposes, as well as for funding Millennial Media’s international expansion.
On top of those plans, the firm said that it “may use a portion of the proceeds” to fund acquisitions, although there are currently no plans to buy another company.
Revenue for the nine months ended 30 September was $69.1m. The firm is headed by CEO and co-founder Paul Palmieri (pictured).
Readers' comments (1)
Anonymous | 12-Feb-2012 10:56 pm
What can investors expect to see as an initial offering per share when it goes public? Any ideas? Thanks
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