IPO to Make Instant Millionaires of Millennial Media Founders

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Watch for these two names: Paul Palmieri and Chris Brandenburg.  Both are poised to become Kevin Plank-important, and soon.

With the filing last week of the necessary documents for an initial public offering of Millennial Media, the Baltimore-based mobile ad network is sure to make multi-millionaires of its 40ish founders — Palmieri and Brandenburg. The documents put the value of the company at $305 million. And it’s just the beginning. See filing at Citybizlist

Five-year-old Millennial Media is the largest independently owned mobile ad network, with offices in Baltimore, London, DC, New York, San Francisco, Los Angeles and Singapore. Its two major competitors — Admob and Quattro — are owned by tech giants Google and Apple. According to TechCrunch, Millennial has seen growth of 138 percent in the last year with revenues near $70 million in the first nine months of 2011. Net losses, meanwhile, declined from $5.4 million to $417,000. 

While the company and its co-founders are well-known in the tech community — both have been the recipients of too many awards to list here — they are less known in and around Baltimore.  Palimieri graduated from Mount St. Mary’s College in 1992 and lives in Hunt Valley. Brandenburg is a UMBC grad, who is from Harford County.

So if you’re a development director looking for deep-pocketed board members or a scientist in search of someone to fund your latest study or a just an ambitious artistic visionary in search of a patron, you should probably friend these guys on Facebook, or better yet, connect with them on LinkedIn. But don’t get hurt feelings if they ignore your request. They’re kind of busy right now…



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