As bigger companies like Google and Facebook keep extending their reach into mobile advertising, will Canton-based Millennial Media be able to keep up?
The global mobile advertising firm, as Technical.ly Baltimore reported, lost $12.9 million in Q1 of 2014. In addition, its stock price last week fell by 40 percent.
As the Baltimore Business Journal reports, more competition in the mobile ad market “could complicate Millennial Media Inc.’s ability to make the comeback it needs.”
Millennial is considered a leader in a rapidly growing market, mobile advertising, and has long competed with Internet giants Google Inc. and Facebook Inc. But as those companies make a bigger push into mobile advertising, smaller firms like Millennial might have a harder time keeping up, Eden Zoller, a principal analyst for consumer telecom at Ovum, said in an email.
In January, Millennial Media cofounder Paul Palmieri left the company.