While Millennial Media pioneered mobile advertising, it now competes with online household names Google and Facebook, which dominate the $18 billion market.
To Millennial CEO Michael Barrett, that's a good sign.
But it's also meant a rough start to Barrett's tenure at the Baltimore-based firm. He took over in January for Paul Palmieri, who founded and led Millennial from its days as a startup in 2006 to its debut as a public company in 2012.
As the company's stock tumbled amid a disappointing earnings report last month, Barrett acknowledged on an investor conference call there were challenges ahead and outlined a plan to address them. According to eMarketer, Google...