Millennial Media

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Millennial Media
Type Public (A Subsidiary of AOL)
Industry Mobile Advertising & Monetization
Founded May 2006
Headquarters Baltimore, Maryland, USA
Key people Michael Barrett (CEO), Michael Avon (CFO), Bob Hammond (CTO), Matt Gillis (Exec. Vice President, Global Monetization Solution)
Investors Acta Wireless, Bessemer Venture Partners, Columbia Capital, CRV, New Enterprise Associates
Number of employees 600+
Related Certifications Certificate in Mobile Ad Networks Industry Overview

Millennial Media is an advertising platform for promoting and monetizing mobile applications. Millennial Media is one of the world's largest independent mobile ad network and claims to serve more than 30 billion mobile banner and text ads per month across mobile Web sites and handset applications.
Millennial Media also drives monetization for its publisher and developer partners by connecting them to networks, advertisers and an RTB exchange. Its mobile advertising and monetization solutions include mobile sites; Mobile Analytics solution, which helps mobile site owners to gain insight into their traffic and site usage to make data-driven decisions about their mobile business; and Mobile Metrics Report, which offers insights into trends in the mobile ecosystem.
It operates MYDAS, a mobile advertising technology that identifies unique users, targets ads based on user interest, behavior and location and delivers ads to users. It runs on various device types to ensure that the ads would work over wireless connections and measures user engagement and ad performance.
Millennial Media’s customers include 23 of the top 25 Ad Age brands and owns 17.7 percent of the mobile display ad market. Similar to Flurry’s AppCircle, their App Engagement Program can drive users back to specific destinations inside your app and re-target them with relevant messaging.

The company is based in Baltimore with offices in Boston, London, Singapore, New York City and San Francisco. On September 3, 2015, AOL agreed to buy Millennial Media for US$238 million .


  • Millennial Media was founded in May 2006 by Paul Palmieri and Chris Brandenburg.
  • Milennial Media received $64.8M in funding between 2007 and 2011.
  • Millennial Media acquired TapMetrics in 2010 to offer mobile developers an online dashboard for managing application sales and revenue, as well as more analytics-rich features.
  • In August 2013, Millennial Media Acquires JumpTap for $225M
  • Millennial Media has acquired several companies, including Condaptive in 2011, Jumptap in 2013, and Nexage in 2014.
  • In January 2012, Millennial Media filed with the SEC for an initial public offering of its common stock, and the company was first listed in March 2012
  • Millennial Media won several awards including the 2015 Partner of the Year & Best Visual Campaign Finalists at the thinkLA IDEA Awards and Most Effective Use of Video, Most Effective Advertising Network at Effective Mobile Marketing Awards 2014
  • In 2014, Millennial Media Buys Metaresolver in Jan and Nexage in September.
  • In Feb 2015, TapMetrics Acquired By Millennial Media
  • In April 2015, AudienceScience Selects Millennial Media as Mobile Exchange Partner
  • In September 2015, AOL purchased all outstanding shares of Millennial Media, for $1.75 in cash per share of Millennial Media common stock, resulting in a US$238 million acquisition.


Millennial Media provides solutions that enables advertisers to gain insights into the performance of their advertising campaigns and to manage their campaigns and cross-screen device map that allows to associate a single user with multiple online and mobile devices. They include:

  • mmDSP, a demand side platform that accesses inventory directly from developers through its advertising exchange
  • Millennial Media Exchange, a premium mobile advertising exchange solution
  • mmStudio solution, which enables advertisers and advertising agencies to design advertising using a set of templates
  • It also provides solutions for developers, including software development kits that allow apps to receive various kinds of ads, including video, interactive rich media, banner display, and native ad formats; and ad serving capabilities, mediation tools, and access to its ad exchange, which allow developers to allocate ad requests among various advertising campaign sources
  • The company’s solutions for developers also comprise reporting and analytics that include ad revenue generation reports for their apps across various mobile operating systems; and support services


  • In 2015, Millennial Media Inc, an investor in mobile advertising company, launched a putative class action in Delaware Chancery Court on Wednesday challenging the company’s proposed acquisition by AOL Inc. for $238 million including debt, arguing the deal locks shareholders out of the ability to benefit from the target’s growth potential. [1]
  • When Millennial Media went public, it was noted that "The company has never been profitable since its inception in 2006, and warns that it may not ever be." In the second quarter of 2014, Millennial Media's stock lost more than one-fourth of its value, finishing the quarter in the bottom 2% of NYSE-listed stocks. In July, 2014, several analysts downgraded their ratings of the company's stock.
  • In 2014, A class action lawsuit accuses Millennial Media executives of hiding information that reflected poorly on the company, and, once released publicly, sent the company's stock price tumbling.The Mississippi state pension system's complaint accuses the Baltimore mobile advertising firm and its leaders of making "false and misleading statements" and failing to disclose material information that investors should have known. [2]
  • In 2012, Shares of Millennial Media fell as much as 9 percent on Monday after rival Augme Technologies Inc filed a patent-infringement lawsuit against the mobile advertising company. Augme said in a statement that Millennial had infringed its software patents that help advertisers target consumers via the Internet. [3]

Top 5 Recent News Headlines

  • Millennial Media Releases mmSDK 6.0 with New Video and Native Ad Formats for Mobile Apps - The new SDK enables publishers to monetize through all mobile demand sources, including Millennial Media-sourced demand, the Millennial Media Exchange, publisher-direct sold campaigns, and publisher and network mediation partners.
  • Jonathan Ross confirmed to join Millennial Media on stage for its IAB Digital Upfronts 2015 programme - Millennial Media will be joined on stage at this year’s IAB Digital Upfronts by renowned British broadcaster Jonathan Ross, adding to an already packed programme on the subjects of mobile video and creativity.
  • Millennial Media Reports Second Quarter 2015 Financial Results - For the second quarter of 2015, revenue was $65.8 million compared to $67.3 million in the second quarter of 2014. Revenue for the second quarter of 2015 was comprised of $57.1 million for Managed Media and $8.7 million for Platform.
  • Millennial Media recruits Andrew Moore to lead Platform business in EMEA - Millennial Media announced the appointment of Andrew Moore as Managing Director of Platform, EMEA. In his new role, Andrew will be responsible for growing Millennial Media’s Platform business in the region, directing the Platform demand team and driving programmatic initiatives across EMEA.
  • AudienceScience Selects Millennial Media as Mobile Exchange Partner - Through this partnership, AudienceScience, with its Helios, an Enterprise Advertising Management System, enables brand advertisers to buy premium inventory programmatically via the Millennial Media Exchange. AudienceScience Helios gives advertisers a complete view of how every dollar spent goes towards reaching their desired consumers across online display, video and, now, mobile media.

Top 5 Recent Tweets

Author Date Tweet
@Seth_TBR 21 Jan'16 Scale matters in #adtech: new @Verizon @AOL @MillennialMedia entity reaches 700MM consumers worldwide per Jimmy Maymann #IP2016 @maymann
@masterclassing 15 Dec'15 Expert Zac from @MillennialMedia discusses new opportunities for #brands in #MENA
@lopsidedstephen 8 Dec'15 @timarmstrongaol provides insight on recent Verizon, @microsoft & @millennialmedia deals at #TCDisrupt
@AOLAdvertising 2 Dec'15 Learn how @MillennialMedia, @HavasMedia & @emirates took mobile strategy to new heights
@adexchanger 30 Nov'15 “This was less about the content and more about the audience” @alamborghini @MillennialMedia


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