The largest remaining independent mobile advertising network, Millennial Media, revealed that it earned $47.8M in 2010 revenue — up over 3000 percent from the $1.5M it generated in 2007.
While it’s unclear what the company’s net income is, we do know the company achieved profitability in 2010. In May, Bloomberg reported that Millennial was talking to bankers about a possible IPO, which could come in the Fall or in early 2012 and could value the company at a whopping $700 million to $1 billion. We’ll be awaiting the official S-1 filing in the coming moths to learn more about the company’s financial situation.
To put things into perspective, AdMob reportedly had a $100 million revenue run rate when it was acquired in 2009, which could have put its actual revenue at $40 million after its 60/40 revenue split with publishers. It’s unclear if Millennial’s $47.8 million in 2010 revenue is post-split.