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Millennial Media valuation could hit $974 million as ad network ups IPO share price

Now between $11 and $13 per share

Millennial Media valuation could hit $974 million as ad network ups IPO share price
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| Millennial news

Independent mobile advertising network Millennial Media has upped the share price for its upcoming initial public offering (IPO) from $9 to $11 per share to $11 to $13 per share.

As a result, the company is looking to raise a total of $152.5 million from the IPO – up more than 50 percent on the original figure stated when the company filed for an S-1 in early January.

Value matters

According to TechCrunch, such a range means the company could be valued at around $974 million when it's listed on the New York Stock Exchange.

The company counts itself as second behind Google's AdMob in the international league of ad networks, serving ads to 200 million unique users worldwide across more than 30,000 apps.

The network supports over 7,000 types of mobile devices equipped with iOS, Android, Windows Phone, BlackBerry, and Symbian.

[source: TechCrunch]

Tom Worthington
Tom Worthington
Fresh out of the packaging, Tom joins Pocket Gamer with a chip on his shoulder and a degree in Journalism. Naively, Tom believes there's a star-studded career in video games and has penned words across the internet in between praying to the almighty Nintendo gods.