Brian Wolak

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Baltimore’s Millennial Media Files for $75 Million IPO

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Courtesy of Citybizlist – Millennial Media, Inc. has filed an initial public offering registration statement with the SEC, looking to raise up to $75 million.

The Baltimore-based mobile advertising company has already secured more than $65 million in venture funding.

The breakdown of current stockholders is as follows:

– Bessemer Venture Partners: 20.6 percent, 13.5 million shares

– Columbia Capital: 20.6 percent, 13.5 million shares

– Charles River Ventures: 15.8 percent, 10.4 million shares

– New Enterprise Associates: 15 percent, 9.8 million shares

– Paul Palmieri (co-founder, president, CEO): 11.3 percent, 7.4 million shares

– Chris Brandenburg (co-founder, CTO): 9.2 percent, 6.1 million shares

In 2009, Millennial Media raised $16 million in a series C round which New Enterprise Associates led with a $12 million investment.

The company conducted a $27.5 million series D round in December 2010 with New Enterprise Associates, Charles River Ventures, Columbia Capital, and Bessemer Venture Partners participating.

Millennial Media’s revenue increased from $16.2 million to $47.8 million, or 195 percent, from 2009 to 2010.

For the nine months ended September 30, 2011, its revenue increased from $29.1 million a year ago to $69.1 million, or 138 percent.

See Milleniall Media’s entire S1 registration statement at citybizlist

Fear the JoS. A. Bank Sweater Vests of Rick Santorum

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Courtesy of Citybizlist – Give an assist to JoS. A. Bank Clothiers (Nasdaq:JOSB).

Without its sweater vests, Rick Santorum would be lost in the abyss of GOP presidential ne’er-do-wells. Instead, he has been basking in a recent surge that’s catapulted him ahead of Newt Gingrich and Ron Paul and just behind Mitt Romney in the Iowa caucus.

Earlier this week, he appeared on the Laura Ingraham radio show and proclaimed that it was when he started wearing his sweater vest at a speech two weeks ago that things started to change.

“If there was one event that really began the moment, it was that speech…So all the sudden the sweater vest was like, ‘Fear the vest,'” he said.

As the New York Times observes, “The vests have inspired their own Twitter feed – @FearRicksVest – and a Web site, FearRicksVest.com, which redirects to a pro-Santorum Facebook page. There is also a music video, ‘Sleeves Slow Me Down,’ on YouTube. The clip is loaded with catchy slogans like ‘Rick is getting ready to inVEST in you.'”

Where does Santorum procure these quickly-becoming-mythical creations?

According to the Times, Santorum buys most of his sweater vests from Baltimore-based JoS. A. Bank … even if he indulges in an occasional Brooks Brothers purchase.

If Santorum goes on to win the GOP nomination, perhaps JoS. A. Bank can begin to target a new, if highly exclusive – and presidential – demographic.

Maryland’s $1 Million Donors in 2011

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Courtesy of Citybizlist – Of Americans who gave gifts of $1 million or more in 2011, six were Maryland residents, topped by George L. Bunting and Anne Bunting

Another five donors (who gave gifts of $1 million or more) to Maryland-based institutions resided out of state. John Malone, from Colorado, led that group with a $30 million gift to Johns Hopkins University, Whiting School of Engineering.

In December, citybizlist reported that Maryland was the second most charitable state in the country.

Below are two charts with data provided by The Chronicle of Philanthropy. The first represents gifts where the donor resided in Maryland, the second where the donor was out of state. When both the donor and recipient were located in Maryland, the gifts are included in the first chart. Footnotes are provided under each.

Maryland as Donor State

Maryland Institute College of Art, in Baltimore, has received a pledge of $10-million from George L. Bunting Jr. and Anne Bunting to expand graduate studies and for research. Mr. Bunting is the president of Bunting Management Group, an investment firm, and former chairman and chief executive officer of Noxell Corporation, the maker of Noxzema skin cream. He is a former longtime member of the school’s Board of Trustees.

The University of Maryland at College Park has received $10-million from Edward St. John, founder and chairman of St. John Properties, a commercial real-estate development company in Baltimore, to create and name the Teaching and Learning Center. Mr. St. John graduated from the university in 1961 with a bachelor’s degree in engineering.

George Washington U. (Washington): $8-million pledge from A. James Clark, chief executive of Clark Enterprises, a construction company in Bethesda, Md., to establish a scholarship fund for prospective students in the School of Engineering and Applied Science. Mr. Clark is a trustee emeritus, and his company is building a science and engineering complex for the university.

Dominican U. of California (San Rafael): $2-million bequest from H.B. Yin and Lillian L.Y. Wang Yin for an endowed professorship in chemistry and for a scholarship fund for students majoring in chemistry or majoring in a science while minoring in chemistry. Ms. Wang Yin coordinated efforts on human subject protection and clinical investigators at the U.S. Food and Drug Administration’s Office of Regulatory Affairs. She died in 2000. Mr. Yin died in 2010.

Loyola U. Maryland (Baltimore): $1-million bequest from the estate of Alexander M. Haig Jr., a former U.S. Army general who served as Secretary of State during the Reagan administration. The money will establish the Alexander M. Haig Jr. Endowment Fund for Science, Faith, and Culture. Mr. Haig died in 2010.

Baltimore School for the Arts: $1-million gift from Patricia and Mark Joseph for its endowment. Mr. Joseph is chairman of Municipal Mortgage and Equity, in Baltimore, and a co-founder of the school.

Read the rest of the story at Citybizlist

Baltimore Start-Up Sickweather: Off to a Sick Start

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Courtesy of Citybizlist – Sickweather is an up and coming Baltimore-based startup led by CEO and co-founder Graham Dodge that we first reported on in October when it was about to launch its closed beta test.

Sickweather, which tracks the movement of illnesses across the country by crawling social media sites, is now open to the public. See for yourself here.

And it is working.

Sickweather said today that it successfully predicted what are now documented increases of Whooping Cough in Algonquin, IL and Milwaukee, WI.

According to a company release, the earliest Sickweather report of Whooping Cough (Pertussis) near Algonquin, IL appeared on October 5th (during Sickweather’s closed beta testing), approximately one month prior to confirmed reports that appeared in the news. A month later, the same trends followed in nearby Milwaukee, WI. Both instances also saw increased reports of “cough” prior to and during these outbreaks.

“The implication is that some of the users reporting cough from these areas may very well be undiagnosed or pre-diagnosed cases of whooping cough,” said Dodge. “We are also witnessing more reports of adults with whooping cough. In one case, a report of a doctor getting whooping cough, presumably from one of her patients.”

This is good news for a local startup that’s already gotten the attention of Time, Al Jazeera, All Things D, and others.

Read more at citybizlist

Is Baltimore’s Angel Investing Scene as Small as it Seems?

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Courtesy of Citybizlist – AngelList, a self-described “badass community of startups and investors,” is becoming a hotbed of investment activity that links dollars and backers with entrepreneurs and innovation.

It’s partly a social media platform, similar to Facebook or LinkedIn, except that it enables startups to create profiles for their companies, seek endorsements, and contact — and ideally line up capital from — potential angel investors.

Likewise, angel investors create profiles to signify what industries, geographies, and amounts they might be willing to invest in. At a minimum, angels should have made two $25K angel investments and plan to make two more $25K investments in the same year.

AngelList’s cannon of angels is a who’s who investors: Marissa Mayer, Brad Feld, Dave McClure, Reid Hoffman, Mark Suster, Tim O’Reilly, Ashton Kutcher (yes, that Ashton Kutcher), etc.

It has over 500 investors in North America along with close to 9,000 startups. On Twitter, it has 20K followers.

In short, AngelList likely represents the type of platform where angel investments are heading, if they’re not already there in many locations.

Baltimore is poorly represented.

Currently, there are a paltry 26 Baltimore-based startups on AngelList, topped by Cellona Therapeutics, gREATESST, College2Startup, and Localist.

Yet even when you expand your search to all of Maryland, it only roughly doubles the number to 54.

In terms of investors that follow and live in Baltimore, there are:

– Dave Troy
– Greg Cangialosi
– Frank Bonsal
– Edward Chalfin
– Austin Kirk
– Tom Loveland
– Bob Dyke
– Jay Steinmetz
– Len Ostroff
– Aviel Rubin

To choose one randomly, according to Cangialosi’s profile, he has made seven investments, in

Read more at citybizlist

Swiss Study Names Legg Mason and T. Rowe in "Capitalist Network that Runs the World"

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Courtesy of Citybizlist – According to theorists at the Swiss Federal Institute of Technology in Zurich, Baltimore asset managers T. Rowe Price(Nasdaq:TROW) and Legg Mason (NYSE:LM) are part of a small network of companies – 147 to be exact – that wield “disproportionate power over the global economy.”

Three Swiss systems theorists examined the relationships of 43,060 transnational corporations extracted from a database of 37 million companies.

What they uncovered was the existence of a core of 1,318 companies that represented only 20 percent of the global operating revenues, but “appeared to collectively own through their shares the majority of the world’s large blue chip and manufacturing firms – the ‘real’ economy – representing a further 60 per cent of global revenues.”

The theorists drilled further and found that a “super-entity” of 147 companies – mostly financial institutions – controlled 40 percent of the total wealth in the network.

Read the rest of the story at citybizlsit.com

Newsweek Names T. Rowe Least Green

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Courtesy Citybizlist –

Newsweek ranked T. Rowe Price (Nasdaq:TROW) the least green of America’s biggest companies.

The publication’s Green Rankings looked at the 500 largest publicly traded companies in the United States to compile an overallGreen Score – derived from an aggregation of environmental impact, environmental management, and disclosure.

T. Rowe Price ranked dead last, at 500.

Even the vilified Monsanto (NYSE:MON), which creates genetically engineered seed, fared better than Baltimore-based investment firm.

Read the rest of the story at citybizlist.

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