Company: Millennial Media, Baltimore, MD
Company Description: Millennial Media is the proven leader in mobile advertising, with the largest mobile media audience in the US. The company is committed to growing the mobile advertising marketplace by becoming the preferred partner to all advertisers seeking to reach mobile consumers, all publishers and developers seeking to maximize ad revenue, and all mobile operators seeking to further monetize their networks
Nomination Category: Management Awards Categories
Nomination Sub Category: Executive of the Year - Media & Entertainment
Nomination Title: Paul Palmieri, President and CEO
Tell the story about what this nominee achieved since January 1 2010 (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:
Paul Palmieri has been a pioneer in the meteoric rise of mobile advertising, leading his Baltimore-based company, Millennial Media, to the top of its industry amongst two media powerhouses--Google and Apple. Millennial Media is the leading independent mobile advertising platform, significantly outpacing companies like Yahoo!, Microsoft or AOL in market share. To support the growth of the company, Paul helped raise a $27.5 million funding round in January of this year, bringing the company’s total to $64.8 million. Rather than move the company to traditional tech or advertising hubs like Silicon Valley or New York, Paul has continued to grow the company out of Baltimore. The company has more than 135 employees with offices in New York, London, San Francisco and Los Angeles, and its revenues tripled in 2010.
As one of the first to enter the space in 2006, Palmieri’s efforts to increase mobile as part of the overall media mix have broken down barriers for growth in the industry through increased awareness, the development of mobile-specific technology, and the advancement of mobile metrics and industry-wide standards. Paul has played a role in helping entire verticals test, optimize, and grow into the mobile advertising space, as seven verticals grew by more than 150% year-over-year in 2010, highlighted by a 696% growth in the retail industry alone.
Under Paul’s management, Millennial Media has become a known industry leader in mobile intelligence. The company consistently drives mobile trends and insights into the market place to help advertisers, developers and publishers optimize ROI, campaign awareness, application downloads, and monetization.
As the leading independent mobile ad platform in the industry, Millennial Media has driven key technology initiatives and in-application solutions for brand advertisers across all devices in the mobile ecosystem. In 2010, Paul continued his emphasis on bringing the largest advertisers into the mobile space, as Millennial now works with 20 of the top 25 Ad Age brand advertisers, and deals of over 100k grew 346% year-over-year.
As an entrepreneur, Mr. Palmieri is well known for his influential role in mobile entertainment and advertising, having led the mobile multimedia business for Verizon Wireless where he served as an executive for five years. His establishment of new and successful business models have been credited with playing a key role in the birth of the now thriving app economy, mobile display advertising market, text interaction, and the mobile game industry.
In 2010, Paul Palmieri was honored as the Ernst and Young Entrepreneur of the Year, Technology in Maryland. In 2011, he was named one of the “Most Influential Marylanders” by the Maryland Daily Record. In 2010, Millennial Media was named the top digital media company as the 2010 Overall winner for OnMedia, and Millennial Media won the American Business Award for most Innovative Company.
List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:
Company Profile: http://techcrunch.com/2010/07/28/millennial-media-ipo-2011/
Recent Media Coverage: http://www.readwriteweb.com/mobile/2011/04/ios-grows-in-march-generates-more-ad-revenue.php?utm_source=twitterfeed&utm_medium=twitter http://tech.fortune.cnn.com/2011/04/14/millennial-media-ios-gained-on-android-in-march/ http://thedroidguy.com/2011/04/the-mobile-platform-millennial-media-teams-with-the-droid-guy-others-for-android-homecoming-2011/
Provide a brief (up to 100 words) biography about the nominee:
Paul Palmieri has guided Millennial Media to its position as the leading independent mobile advertising platform by focusing on the needs of advertisers, innovative technologies and industry growth. Paul’s innovative business models have led to rapid growth in mobile media.
Prior to Millennial Media, Paul held key management roles with Verizon Wireless and Advertising.com and is active in industry and community leadership, serving as the Global Vice Chairman of the Mobile Marketing Association, and on the boards of the CTIA Wireless Internet Caucus Leadership Council, the Greater Baltimore Technology Council, the Mobile Giving Foundation and others.