Millennial launches mMedia self-service mobile ad solution

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BARCELONA, Spain--Mobile advertising network Millennial Media transitioned its new mMedia self-service mobile advertising solution from private beta to full release here at Mobile World Congress 2012, giving app developers, franchises and small businesses the tools to roll out mobile campaigns.

According to Millennial Media, mMedia campaigns are designed for quick setup, giving advertisers a dashboard enabling access to bids, creative, targeting and related tools. Beyond conventional targeting approaches, mMedia also touts a self-service hyper-local solution enabling small businesses to draw a virtual fence around the specific zone they wish to reach, narrowing their focus to a matter of city blocks.

Millennial Media first introduced mMedia in beta in January 2012. That same month, the firm filed for an initial public offering totaling $75 million. Morgan Stanley, Goldman Sachs and Barclays Capital will manage the IPO. Millennial Media's Securities and Exchange Commission filing did not specify the number of shares it will offer. Bloomberg reports the IPO could value Millennial Media between $700 million and $1 billion. 

Millennial Media serves more than 40 billion mobile ad impressions each month, across operating systems including iOS, Android, BlackBerry and Windows Phone. The company raked in 17.7 percent of U.S. mobile display ad spending in 2011 according to eMarketer data issued earlier this year, behind Google's (NASDAQ:GOOG) AdMob at 24.8 percent and Apple's (NASDAQ:AAPL) iAd at 18.0 percent.

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