Mobile Ad Network Millennial Talking To Banks About IPO

Paul Palmieri, Millennial Media
Millennial Media CEO Paul Palmieri

Mobile ad network Millennial Media is talking to banks about a potential IPO, Bloomberg reports via its terminal.The offering could value the company from $700 million to $1 billion, according to Bloomberg, and could come later this year or next year.

That is potentially more than the $750 million that Google paid for Millennial-rival AdMob, in a deal that closed about a year ago.

Last year, Millennial was the biggest mobile ad network not owned by Google or Apple, IDC declared.

rumours swirled that Microsoft was looking at acquiring the company, but that hasn’t materialised.

Last week, Millennial added a new board member, Broadsoft CFO James Tholen, who just took his company public.

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