Mobile Ad Company Jumptap Looking Into An IPO
Jumptap is a mobile ad company that raised $25 million in May 2011. The 7-year-old mobile ad startup is considering selling their shares on the stock exchange after they go public. The mobile advertising industry is expected to grow $20 billion over the next 3 years.
“We’ve looked at it,” stated Jumptap CEO George Bell in an interview with Reuters. “It’s a potential path for the company for sure. We are very pleased with the way the industry has responded to Millennial’s stock; that’s a good thing for us.”
Millenial Media went public on the New York Stock Exchange in March. Then they became the second largest U.S. mobile ad company behind Google last year. Jumptap is smaller than Millenial Media and is similar in size to InMobi.
Bell is known for taking Excite.com public and then later spearheaded the $6.7 billion merger with the @Home network in 1999. Jumptap is often pursued by acquisition suitors. Bell used to be a former managing director of Jumptap investor General Catalyst.
Jumptap raised a total of $121.5 million through 7 rounds of funding. Jumptap has around 175 employees and will add 30-40% to their workforce in 2013. The company grew revenue by over 60% said Mr. Bell.
[ITWeb]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry