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



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