Millennial Media is Looking to Expand in Latin America
Millennial Media Inc. is looking to expand in Latin America with acquisitions " to take advantage of a steadily growing mobile advertising market", according to Reuters.
Paul Palmieri, CEO of Millennial Media, told Reuters the company is interested in expanding into Argentina, Brazil and Mexico.
"Mexico and Brazil each have such a substantial number of smartphones that it's absolutely exploding down there. And the percentage of smartphone penetration in Argentina is hot," Palmieri said.
Millennial Media helps mobile developers and advertisers to focus on smartphones, tablets and other mobile devices. The company is an independent mobile advertising network.
According to Reuteurs, Millennial Media "also faces competition from real-time bidding platforms and companies that are a single point of contact for desktop, mobile, and social advertising". "Shares of ValueClick Inc, an online marketing services firm that also provides real-time bidding platforms, have climbed 54 percent over the past year while Millennial shares have dropped 50 percent."
Palmieri also said the company is looking for add this platform to its exchange capability to offer ad buyers the opportunity to buy ad space by RTB.