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MediaMind Technologies (MDMD) |
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WIKI ANALYSIS
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
MediaMind Technologies (NASDAQ:MDMD) provides tools to help advertisers manage their internet campaigns. Their platform allows advertisers to create and distribute advertisements across online and mobile and through videos, rich media, and static displays. MediaMind has approximately 7,000 customers and distributes advertisements across approximately 3,350 advertising agencies. Their platform allows the users to monitor site traffic, conversion rate, They make money by charging customers a fee to use their platform.[1]
MDMD has developed its business to help advertisers run campaigns across the internet "real estate" which is highly fragmented and does not have clearly defined metrics. While the company is one of the few companies which is independent and not affiliated to one advertising agency in particular.[2] However, MediaMind competes with many significant internet technology advertising giants like Google and Microsoft.[3]
The company's initial public offering of stock filed on the NASDAQ and went public on 11 August 2010. It was priced at $11.50, below the initial price range of $14-$16. The company cut its final offer price by 23% of the initial range. However, they did raise $57.5M by selling 5M shares. The lead underwriters of the deal were J P Morgan Chase (JPM) and Deutsche Bank AG (DB).[4]
MediaMind has continued to slightly grow its revenue figures from 2008 to 2009. For the fiscal year 2009, it reported $65M while in 2008 it reported $64M. However, Net income has grown more substantially over the past year. In 2009, it net income was $9.8M while in 2008 it was $6.2M. This corresponds to a 58% increase.[5] This increase comes mostly from a $4M decrease in general and administrative costs as well as a cut in research and development costs. The decrease in G&A expenses were due to a decrease in headcount and a slight drop in salaries.[6]
References
- ↑ MDMD S-1/A 2010 "Prospectus Summary" pg 1
- ↑ MDMD S-1/A 2010 "Our Strategy" pg 3-4
- ↑ MDMD S-1/A 2010 "Risks" pg 4
- ↑ Renaissance Capital "MediaMind Technologies prices IPO at $11.50, below the range" 11 August 2010
- ↑ MDMD S-1/A 2010 "SUMMARY CONSOLIDATED FINANCIAL AND OTHER DATA" pg 8
- ↑ MDMD S-1/A 2010 "Operating Expenses" pg 56
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