Millennial Media Acquires TapMetrics
Millennial Media, the largest independent mobile advertising network, announced today that it will acquire TapMetrics, a San Francisco-based mobile analytics firm, focused on application usage and behavior.
TapMetrics software suite provides detailed analytics to enable developers to better manage their application sales and revenue in a sleek, intuitive dashboard. By adding TapMetrics, Millennial Media will offer developers more capabilities across mobile platforms:
“The market has recognized Millennial Media as the leader in mobile advertising,” says Chris Brown, fo-founder and CEO, TapMetrics. “As a result of its deep commitment to advertisers, it delivers the best business partnership and monetization for mobile companies – particularly developers. “What is exciting to us is that Millennial Media now has the only scalable solution for developers that doesn’t contain an operating system bias, making Millennial Media the natural partner for us.”
Millennial Media operates the leading mobile advertising platform worldwide. Since adding $16M to its strong cash position in November, Millennial Media has expanded its offerings to key customer segments, to include OEM and platform partnerships that seek to access its strong base of developers and publishers. Additionally, Millennial Media’s employee base has grown by more than 20%, as it continues to expand operations in the U.S. and Europe.
“When we raised our growth round of financing in November, we stated that we would make investments to accelerate our growth,” says Michael Avon, executive vice-presidet and CFO, Millennial Media. “We are acquiring TapMetrics, because the company shares our approach to serve the needs of developers, regardless of mobile platform. In addition, TapMetrics’ data and analytics capabilities complement our company’s own focus and development plans. We continue to actively evaluate other potential acquisitions to further expand our business.”
On Feb. 16, 2010, the company released other key 2009 year-over-year mobile advertising growth figures, including:
- Brand business grew 756%; Performance business grew 171%;
- Average deal size increased 353%;
- Non-U.S. impressions increased 175% year over year;
- 357% increase in Apple OS impressions;
- 90% increase in RIM OS impressions;
- 81% reach of the Mobile Web users
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Millennial Media is headquartered in Baltimore, Maryland; and has offices in New York, Los Angeles, San Francisco, Chicago, Atlanta, and London. TapMetrics will continue to be based out of its San Francisco headquarters. Terms of the transaction were not disclosed.
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