Millennial Media Adds Michael Avon as Chief Financial Officer

BALTIMORE, MD (November 19, 2009)—Millennial Media today announced the appointment of Michael Avon as the company’s Executive Vice President and Chief Financial Officer. In this role, he will lead the company’s global financial, legal, and corporate development activities.

Michael Avon joins Millennial Media from Columbia Capital, an early investor in Millennial Media, where he focused on digital media, wireless and consumer internet investments. He has been actively involved with Millennial Media since the founding of the Company in 2006; and he has also been an investor in other high growth companies such as: Avail-TVN,  Social Gaming Network (SGN), Webs.com, Gizmoz, GoAhead Software, and Vallent (acquired by IBM), among others.  Prior to joining Columbia Capital, Michael served in numerous integral senior investment, financial, legal, and business development operating roles.

“Millennial Media announced a significant round of financing this week. Given our accelerated growth strategy, Mike is a critical addition to our executive team at this time in our evolution,” said Paul Palmieri, president and CEO of Millennial Media. “Mike’s track record and enthusiasm for the mobile advertising space will provide us a sure hand in our corporate development and finance endeavors.”

On Monday, November 16, 2009, Millennial Media announced it had closed a $16M Series C round of growth funding led by New Enterprise Associates (NEA), with existing investors Bessemer Venture Partners, Columbia Capital, and Charles River Ventures participating. The new growth financing will be used to continue to strengthen Millennial Media’s position as the leading mobile ad network in the U.S., as well as finance accelerated international expansion, advanced targeting products, and wider-penetration of its mobile media planning platform for agencies.

About Millennial Media, Inc.

Millennial Media is the proven leader in mobile advertising. With the largest mobile media audience in the U.S., Millennial Media uniquely offers brand advertisers the only set of specific, scalable audiences. Our ability to reach, target and engage consumers is unparalleled. As an innovative technology leader, our mobile decisioning, serving, and mediation platforms are powering some of the largest companies in the media business today.  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 seeking to maximize ad revenue, and all mobile operators seeking to further monetize their networks.  For more information, please visit http://www.millennialmedia.com or follow us on Twitter at www.twitter.com/millennialmedia.

Media and Analyst Inquiries
Erin (Mack) McKelvey
VP of Marketing
443 992 4193 (o)
443 878 5673 (m)
mack@millennialmedia.com

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