The words Media Metrix (Nasdaq: MMXI) are ubiquitous in coverage of the Internet. Considered by many as the Nielsen ratings of the Internet, Media Metrix’s measurements help determine where ad dollars and investment dollars go for everything from content sites to e-commerce businesses. One reason almost everybody knows Amazon.com is the Internet’s top shopping site is because Media Metrix says so.
With the kind of brand awareness Media Metrix has, it was no surprise that shares of its initial public offering soared on their first day of trading Friday. Media Metrix stock rocketed 168 percent, closing up 28-9/16 to 45-9/16.
Media Metrix has succeeded despite competition for Nielsen/Netratings. There are concerns that Media Metrix’s rating systems are somewhat inadequate because they under-represent Web users who log on at work. However, the company still provides valuable resources for those interested in e-commerce. On April 22, Media Metrix launched the Online Shopping Report, which monitors online shopping behavior.