NeoMedia rakes in $2.1M in Q1

The recent mobile-marketing acquisition spree of NeoMedia has created a company with a client roster that reads like a who's who of marketers: McDonald's, Coca-Cola, Nokia, Sony and Adidas. But, after more than $60 million in acquisitions, the company's first quarter revenue was a mere $2.1 million. NeoMedia recently bought 12snap for $22 million, Gavitec for $7.2 million, HipCricket for $4.5 million (pending), Sponge for $17.4 million with another $4.4 million if targets are met and Mobot for $10 million. NeoMedia's COO Martin Copus said the company isn't making money yet, but it "believes there is going to be an explosion in the marketplace, and we want to be at the forefront of that explosion when it happens."

Analysts are less than bullish on the company faring well if a boom in mobile marketing does come to pass: Forrester Research's Shar Van Boskirk called the company "a very odd combination" that lacks a plan for a cohesive mobile offering. NeoMedia "is not like the mover and shaker you'd expect in the interactive mobile space," Boskirk said.

For more on NeoMedia:
- check out this article from AdAge