Mobile Advertising Provider Velti Sees Major Revenue Hike

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Photo: Flickr / stevendepolo

Velti, the mobile advertising and marketing behemoth, is boasting 75 per cent year-on-year revenue growth at the end of Q1 2012. The 11-year-old global provider had a first quarter revenue of $51.8 million, but a net loss of $8.8 million. That was less than its net loss of $15.9 million for Q1 2011.

Adjusted EBITDA was $4.6 million, up 260 per cent from last year.

Mobile marketing is becoming increasingly mainstream in the advertising world.

This is the first year that the Cannes Lions (the swankiest of the advertising awards because it takes place on swanky French beaches) will include mobile marketers in its own category. Velti joined forces with the Mobile Marketing Association (MMA) to create the “Mobile Circus” which will “come to town” during the 59th annual Cannes Lions International Festival of Creativity in June.

“Marketers can no longer ignore the power of mobile,” Velti CEO, Alex Moukas, said.

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