AOL Snaps up Millennial Media for a Bargain

After itself being acquired by Verizon earlier this year, AOL made a move today to beef up its mobile presence (we know how important mobile will be, right kids?) with a purchase of ad network Millennial Media.

Millennial — once thought by investors to be worth $1.87 billion — has had a tough go in mobile ever since marketers started taking Facebook ads seriously. The company’s stock closed at $1.74 today, after opening at $23.50 in 2012. For them, selling to AOL will hopefully put the brakes on the company’s slow decline, while also providing the network some valuable ad tech solutions. 

For AOL, buying Millennial Media means extending their mobile reach going into 2016. Millennial places ads in some 65,000 apps — both in the US and abroad — reaching an estimated 1 billion users.

The aptly-named mobile network fits like a glove with a recently-announced plan by AOL and Verizon to launch a mobile video platform aimed at attracting millennial viewers. “GO90”, as the network will reportedly be called, is expected to launch within the next few days, and will feature content from partners such as Vice, Dreamworks and AOL itself.

There’s no word at this time on whether Millennial Media’s ad network will play a part in the Verizon/AOL G090 service; though, it’s not hard to fathom that the latter will leverage the advertisers already working with the former to fill newly-available impressions.