Millennial Media 'focused on deepening its roots in Baltimore' [VIDEO] - Technical.ly Baltimore

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Apr. 11, 2013 8:30 am

Millennial Media ‘focused on deepening its roots in Baltimore’ [VIDEO]

It's been just over a year since the global, mobile advertising firm Millennial Media announced its initial public offering. Now, the Canton-based company is "focused on deepening its roots in Baltimore," but that's coming after a rough 12 months for the digital advertising giant.

Millennial Media got a huge investment from die-hard believers.

(File photo)

It’s been just over a year since the global, mobile advertising firm Millennial Media announced its initial public offering.

Now, the Canton-based company is “focused on deepening its roots in Baltimore,” reports the Baltimore Sun.

By market measures, however, this last year hasn’t been a cakewalk for Millennial. As the Sun points out, Millennial stock shares have been trading around the $6 amount. (A far cry from the $25 share price at the time of Millennial’s IPO.) Despite posting $58 million in revenue for Q4 of 2012 — a 67 percent increase in revenue compared to Q4 from the year before — and a Q4 profit of $2.6 million, the company lost $6.2 million on the year.

And research firm IDC reports that mobile publishers like Facebook and Twitter are quickly “gaining control of the U.S. mobile display advertising market, ending years of dominance by ad networks like Google, Millennial Media and Apple.”

Late in 2012 there was a shade of doubt as to whether Millennial Media would remain in its current office inside the Can Company facility in Canton, as limited parking was being described as an increasing challenge for Millennial’s close to 400 employees.

In February, though, Millennial Media renewed its lease, and will remain in the Can Company through March 2015 while it searches “for a more permanent (and spacious) place to call home,” reports the Sun.

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Read the full story at the Baltimore Sun.

And for a chance to meet Millennial Media CEO Paul Palmieri, sign up for one of five remaining seats at the next Exec TechBreakfast on April 15.

Watch Paul Palmieri speak at TEDxBaltimore 2011:

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