Millennial Media, Inc. (NYSE:MM) has named former Yahoo! chief revenue officer Michael Barrett as the CEO. Barrett was brought into Yahoo! in June 2012 and was on his way out by October of that year. Barrett left after Yahoo! named Henrique de Castro as COO. Yahoo! CEO Marissa Mayer fired Henrique de Castro earlier this month.
Millenial Media Posts
According to mobile ad network company Millennial Media, Apple is starting to lose their dominant footing for online ad impressions. Apple’s online ad impressions have increased 72% year-over-year compared to 182% for the Samsung Galaxy S series of products. Apple is still controlling a 15.59% share of the global ad impressions market, but Samsung’s control of a 4.24% share is a major increase.
Millennial Media is a mobile ad network that has debuted on the New York Stock Exchange under the symbol “MM.” The shares popped 97% in the first trade of $25. Millennial Media’s valuation jumped to almost $2 billion and the company priced their IPO at $13 per share. Trading reached as high as $27.90 in early trading.
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Millenial Media is a mobile ad network company based in the U.S. that has raised $27.5 million. Bessemer Venture Partners, Columbia Capital, Charles River Ventures, and New Enterprise Associates (NEA) all participated in this round of funding. Millenial Media has raised a total of $65 million in funding thus far. Millenial Media raised this round of funding because the company wants to stay independent and not get acquired. They have plans to expand internationally too. [AllThingsD]
Millenial Media has released some numbers about the market share break-down between iOS, Android, RIM, Windows, and Symbian. Millenial is basing this on the ads that they distribute. Millenial’s ads reach about 63 million of the 77 million mobile web users in the U.S.
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Millenial Media is a mobile ad network that competes with AdMob. AdMob was recently acquired by Google for $750 million in stock. Millenial Media is based in Baltimore, Maryland and raised $16 million in Series C for New Enterprise Associates, Bessemer Venture Partners, Columbia Capital, and Charles River Ventures.
Millenial will use the funding to help push the company past profitability, grow overseas, hire additional talent, and build more technology. Given that Google already spent a ton of money on a mobile ad network it seems uncertain what Millenial’s exit strategy will be.