Millennial has many competitors focusing on location-based ad initiatives, including Foursquare, which has begun to clinch ad commitments from brands like P&G, Volvo and Pepsi, for new breakout app Swarm.
Although Foursquare only recently entered the programmatic space, the company’s check-in and place-based data on some 45 million consumers along with its intention to shift to place-based media give the social network an advantage. And Google, which last summer announced it would surface ads based on Google Maps searches, remains the gorilla in the room.
Millennial Media had a rough last quarter, reporting net losses of $12.9 million, which was about four times the amount than the year prior. Its guidance was significantly lower than analyst expectations (about $20 million less for Q2). The company has been subject of much discussion around its potential for acquisition.