Media

Mobile Ad Network Millennial Media Nearly Doubles on First Day

Published on March 29, 2012
by Peter Kafka

A big pop for Millennial Media: Shares in the mobile ad network, which priced at $13 in advance of its IPO yesterday, shot up immediately Thursday morning to $25; climbed as high as $27.90; and ended back around $25, up 92 percent. That gives the money-losing company a market cap of $1.9 billion; Google and Apple paid much less to acquire Millennial’s primary competitors in the last few years.

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