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By Scott Dance, The Baltimore Sun | May 10, 2014
Millennial Media has long faced competition for advertising dollars from entrenched giants like Google and Apple, but it was another household name - Facebook - that took a bite out of the Baltimore company's earnings and sent its stock plummeting last week. The social network took the Baltimore-based company by surprise, grabbing a share of its customers who buy ads on mobile devices to drive downloads and draw users to their smartphone and tablet applications, analysts said. That contributed to a tripling of Millennial's first-quarter losses, announced Wednesday.
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BUSINESS
By Scott Dance, The Baltimore Sun | June 3, 2014
While Millennial Media pioneered mobile advertising, it now competes with online household names Google and Facebook, which dominate the $18 billion market. To Millennial CEO Michael Barrett, that's a good sign. But it's also meant a rough start to Barrett's tenure at the Baltimore-based firm. He took over in January for Paul Palmieri, who founded and led Millennial from its days as a startup in 2006 to its debut as a public company in 2012. As the company's stock tumbled amid a disappointing earnings report last month, Barrett acknowledged on an investor conference call there were challenges ahead and outlined a plan to address them.
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BUSINESS
By Gus G. Sentementes, The Baltimore Sun | January 5, 2011
Millennial Media, a Baltimore startup that's a top player in the growing mobile advertising industry, said Wednesday it raised $27.5 million in new investments from several venture capital firms, which it will use to continue to fund its growth. The new funding round was Millennial's largest since it was founded more than four years ago. It has raised more than $65 million from investors. The new money comes from several existing investors in Millennial, including Bessemer Venture Partners, Columbia Capital, Charles River Ventures and New Enterprise Associates.
BUSINESS
By Scott Dance, The Baltimore Sun | May 10, 2014
Millennial Media has long faced competition for advertising dollars from entrenched giants like Google and Apple, but it was another household name - Facebook - that took a bite out of the Baltimore company's earnings and sent its stock plummeting last week. The social network took the Baltimore-based company by surprise, grabbing a share of its customers who buy ads on mobile devices to drive downloads and draw users to their smartphone and tablet applications, analysts said. That contributed to a tripling of Millennial's first-quarter losses, announced Wednesday.
BUSINESS
By Jay Hancock | August 24, 2010
Harbor Hospital just took a step toward solving the old problem of wasting advertising dollars on people unlikely to respond. Wanting to promote its emergency department to neighbors and employees of nearby businesses, the Baltimore hospital launched an ad campaign on "smart," Internet-connected phones — but not just any smart phones. "Geo-targeting" filters sent the banner ads only to folks using phones in 20 nearby ZIP codes. Clicking the ad produced a website on which potential patients could plot turn-by-turn directions to the ER, for immediate use or future reference.
BUSINESS
By Scott Dance, The Baltimore Sun | August 11, 2014
Millennial Media's losses widened five-fold in the second quarter of the year, missing Wall Street estimates and sending shares down 9 percent in after-hours trading. That was despite an 18 percent increase in sales, to $67.3 million in the three months ended June 30 from $57 million in the same period of 2013. Losses grew to $15.1 million in the second quarter, from $3.1 million in the second quarter of last year. The Canton-based mobile advertising company's loss amounted to 14 cents per share, two cents below Wall Street analysts' predictions of a 12-cent loss per share.
BUSINESS
By Gus G. Sentementes, The Baltimore Sun | May 14, 2012
Millennial Media Inc., a Baltimore-based mobile advertising firm, posted its first quarterly results as a public company Monday. The results included a $4 million loss but were in line with Wall Street's expectations. The company reported revenues of $32.9 million — more than 50 percent more in the first quarter this year than the $21.5 million it had in the similar period last year. Analysts estimated that Millennial would post revenue of $34.2 million, according to analysts surveyed by Bloomberg.
BUSINESS
By Scott Dance, The Baltimore Sun | June 3, 2014
While Millennial Media pioneered mobile advertising, it now competes with online household names Google and Facebook, which dominate the $18 billion market. To Millennial CEO Michael Barrett, that's a good sign. But it's also meant a rough start to Barrett's tenure at the Baltimore-based firm. He took over in January for Paul Palmieri, who founded and led Millennial from its days as a startup in 2006 to its debut as a public company in 2012. As the company's stock tumbled amid a disappointing earnings report last month, Barrett acknowledged on an investor conference call there were challenges ahead and outlined a plan to address them.
BUSINESS
By Gus G. Sentementes | gus.sentementes@baltsun.com | March 7, 2010
A dvertising campaigns are always looking for a new canvas, and that could soon be your cell phone screen. With the rise of the iPhone and other smart phones, more people are using their mobile phones to search the Web, watch video and get news. According to a recently released survey from the Pew Research Center, one-fourth of Americans say they get some form of news on their cell phones. And where there are consumers of media, ads typically aren't too far behind. The advertising industry has talked for years about the moneymaking possibilities in mobile advertising - from text-message campaigns to tagging popular applications with marketing messages - and now analysts see it beginning to fulfill expectations.
BUSINESS
By Gus G. Sentementes and Gus G. Sentementes,gus.sentementes@baltsun.com | November 17, 2009
Millennial Media, one of the country's largest advertising networks for mobile devices, said Monday it raised $16 million in new funding that it will use to hire more staff and fuel its international expansion from its Baltimore headquarters. The funding was part of a Series C round led by New Enterprise Associates, a venture capital firm with an office in Baltimore. Existing investors Bessemer Venture Partners, Columbia Capital and Charles River Ventures also participated. Since its founding in 2006, Millennial has raised more than $40 million in venture capital funding, according to Paul Palmieri, its co-founder, president and chief executive.
BUSINESS
By Scott Dance, The Baltimore Sun | January 27, 2014
In a sudden departure, Millennial Media founder and CEO Paul Palmieri left the Baltimore mobile advertising company Monday to work for a prominent Maryland venture capital firm. Palmieri said in an interview his resignation had been in the works for months, though it became effective immediately with an announcement by the company. He joins New Enterprise Associates in Chevy Chase as a venture adviser for technology startups, though he remains Millennial's largest individual shareholder.
BUSINESS
By Scott Dance, The Baltimore Sun | August 14, 2013
Shares of Millennial Media fell nearly 20 percent in early trading Wednesday on news that the Canton mobile advertising company would buy a competitor at a bargain price and that its second-quarter losses widened. Millennial announced Tuesday it struck a deal to acquire Boston-based competitor Jumptap in a mostly stock deal worth more than $200 million, the company said Tuesday. The deal would make the company's mobile advertising market share rival that of Google, the company said.
BUSINESS
By Steve Kilar, The Baltimore Sun | February 20, 2013
Shares of Baltimore's Millennial Media Inc. on Wednesday lost nearly 38 percent of their value, closing at $8.95. Fourth-quarter earnings announced Tuesday disappointed analysts and led to a sharp decline in after-hours trading. The stock closed Tuesday at $14.33 and opened Wednesday at $9.81. The mobile device advertising company reported it had a profit of 3 cents per share - $2.6 million in all - in the quarter ending Dec. 31, falling short of expectations. Projections for this year - the company said it expects revenue to range from $270 million to $280 million - also disappointed some analysts.
NEWS
By Gus G. Sentementes, The Baltimore Sun | August 8, 2012
Millennial Media, a Baltimore-based company that runs a global network of advertising on smartphones, tablets and other mobile devices, said Wednesday that it had a lower-than-expected loss in its second quarter as revenues soared by more than 75 percent. The company, which went public in March in a $1.8 billion offering, said it lost $2.2 million in the second quarter, which ended June 30, compared to $152,000 in the year-earlier period. Millennial reported a loss of 3 cents per share, beating Wall Street analysts' estimates of 5 cents per share.
BUSINESS
By Gus G. Sentementes, The Baltimore Sun | May 14, 2012
Millennial Media Inc., a Baltimore-based mobile advertising firm, posted its first quarterly results as a public company Monday. The results included a $4 million loss but were in line with Wall Street's expectations. The company reported revenues of $32.9 million — more than 50 percent more in the first quarter this year than the $21.5 million it had in the similar period last year. Analysts estimated that Millennial would post revenue of $34.2 million, according to analysts surveyed by Bloomberg.
BUSINESS
Gus G. Sentementes | March 19, 2012
I recently had the pleasure of interviewing Ann Lansinger, who has run Baltimore's Emerging Technology Center for the past 13 years and who is retiring early next month. Ann has seen scores of companies come and go in the Baltimore tech ecosystem. Many have succeeded. Some have failed. Along the way, Ann has had the chance to get to know many entrepreneurs and their businesses, and I thought to myself: here is someone who has probably seen it all in the startup world, at least in our neck of the woods here in Baltimore.
BUSINESS
Jay Hancock | January 9, 2012
In 1996 Robert H. Frank published "The Winner-Take-All Society," an explanation of why so few in the wired world do so well and why everybody else falls short. The intervening years have only strengthened his case that, in a networked economy, most sales, profits and other rewards go to a small group of companies and individuals. Google blew away other search engines. eBay is still the only online auction site most people have heard of. Facebook turned MySpace into a punchline. Thus the chances for Millennial Media to make it huge in mobile, wireless advertising would seem few. Only five years old, the Baltimore-based startup is less than a hundredth the size of its main competitors, Google and Apple.
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