Yahoo advertising executive Michael Katz had the best reaction to Millennial Media’s big IPO pop this morning:
Millenial Media’s marketcap is almost bigger than the actual Mobile Ad Market. Tell me how this makes sense.
— Michael Katz (@mkatz_iC) March 29, 2012
He’s not the only industry person stunned by Millennial’s IPO:
I have to say that I’m shocked that MM is worth $2B after IPO.20X revs!No profits!t.co/UuUdC2FL
— Will Margiloff (@wmargiloff) March 29, 2012