MAM
Mobile ad firm Millennial Media files for $75 mn IPO
MUMBAI: US-based mobile advertising company, Millennial Media, has filed for a $75 million initial public offering (IPO).
The company intends to use the funds to expand its operations overseas and go head-on against Google and Apple.
According to documents filed with the Securities and Exchange Commission, Baltimore‘s Millennial Media‘s revenues grew to nearly $70 million in the first nine months of 2011. It saw a 138 per cent increase over the same period in 2010.
The company said that its revenue is ‘commonly‘ generated by running mobile ads for companies on a cost per thousand (CPT), cost per click (CPC) or cost per action (CPA) basis.
The net loss reported for the period was $417,000.
Millennial serves 40 billion ad impressions per month, per the S-1. That makes it an even bigger sever of ads than Rovio, the maker of Angry Birds, which serves 10 billion.
The company opened a branch in the UK in 2010. It also opened an office in Singapore last year.
The main competitor‘s of Millennial media are Google and Apple. In 2010, Google acquired mobile advertising company, AdMob, while Apple acquired another of Millennial‘s competitors, Quattro Wireless.
The lead underwriters of the IPO are Morgan Stanley, Goldman Sachs and Barclays Capital.
MAM
Flipkart elevates Asim Saurav Das to Director role
Nearly decade-long journey sees brand marketing veteran take on senior leadership position.
MUMBAI: When you climb the e-commerce ladder one thoughtful campaign at a time, eventually the view from the top becomes irresistible and Asim Saurav Das has just reached a new floor. Asim Saurav Das has been elevated to director at Flipkart, marking a significant milestone in his nearly decade-long journey with the organisation. In his new role, he will continue to drive strategic initiatives across brand and marketing, contributing to Flipkart’s growth and market leadership in India’s fiercely competitive e-commerce landscape.
Das joined Flipkart as a Management Trainee and has steadily risen through the ranks, holding key positions including Brand Marketing Manager, Senior Manager, and Associate Director. Before Flipkart, he gained early experience with Procter & Gamble and Hindustan Times. His elevation reflects a strong track record in brand strategy, consumer insights, and delivering impactful marketing outcomes.
From trainee to director in under ten years, Das has clearly mastered the art of scaling brands proving that in the world of online retail, the best way to the top is still through smart, consistent steps rather than shortcuts.
