----

----

| (Mark One)                                                                                                          |
|---------------------------------------------------------------------------------------------------------------------|
| x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934                           |
|                                                                                                                |
| For the quarterly period ended September 30, 2010                                                                   |
| or                                                                                                                  |
|                                                                                                                |
| o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934                          |
|                                                                                                                |
| For the transition period from __________________________________________to________________________________________ |
|                                                                                                                |
| Commission File Number: 001-34844                                                                                   |
|                                                                                                                |
| MediaMind Technologies Inc.                                                                                         |
| (Exact name of registrant as specified in its charter)                                                              |

|           Delaware   |  52-2266402                      |
|----------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------|

| (State or other jurisdiction of incorporation or organization)         | (I.R.S. Employer Identification No.)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                   |
| 135 West 18th Street (5th Floor), New York, NY     |                                                                                                                      10011     |
| (Address of principal executive offices)                               | (Zip Code)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| (646) 202 - 1320                                                                                                                                                                                                                                                                                                                                                                                        |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (Registrant’s telephone number, including area code)                                                                                                                                                                                                                                                                                                                                              |
|                                                                                                                                                                                                                                                                                                                                                                                                    |
| (Former name, former address and former fiscal year, if changed since last report)                                                                                                                                                                                                                                                                                                                      |
|                                                                                                                                                                                                                                                                                                                                                                                                    |
| Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.                                           |
|   Yes  x    No o                                                                                                                                                                                                                                                                                                                                                |
| Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  |
|   Yes o    No o                                                                                                                                                                                                                                                                                                                                                      |
| Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.                                                                 |
| Large accelerated filer o                                                                     | Accelerated filer o    |
|-----------------------------------------------------------------------------------------------|-----------------------------|
|                                                                                          |
| Non-accelerated filer  x    (Do not check if a smaller reporting company) | Smaller reporting company o |
|                                                                                          |                        |
| Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. As of November 15, 2010, there were 18,523,0sa205 shares outstanding of the registrant’s common stock. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                |   | PAGENUMBER |
|-----------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------|
| PART I. FINANCIAL INFORMATION                                                                                                                       |   | 3          |
|                                                                                                                                                |   |       |
| Item 1. Financial Statements                                                                                                                        |   | 3          |
| Condensed Consolidated Balance Sheets as of December 31, 2009 and September 30, 2010 (unaudited)                                                    |   | 3          |
| Condensed Consolidated Statements of Income for the nine months and three months ended September 30, 2009 (unaudited) and 2010 (unaudited)          |   | 5          |
| Condensed Consolidated Statements of Cash Flows for the nine months and three months ended September 30, 2009 (unaudited) and 2010 (unaudited) |   | 6          |
| Notes to Condensed Consolidated Financial Statements for the nine months and three months ended September 30, 2009 (unaudited) and 2010 (unaudited) |   | 7          |
|                                                                                                                                                |   |       |
| Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations                                                 |   | 17         |
| Item 3. Quantitative and Qualitative Disclosures About Market Risk                                                                                  |   | 28         |
| Item 4. Controls and Procedures                                                                                                                     |   | 29         |
|                                                                                                                                                |   |       |
| PART II. OTHER INFORMATION                                                                                                                     |   | 30         |
| Item 1. Legal Proceedings                                                                                                                           |   | 30         |
| Item 1A. Risk Factors                                                                                                                               |   | 30         |
| Item 2. Unregistered Sale of Equity Securities and Use of Proceeds                                                                                  |   | 30         |
| Item 3. Defaults Upon Senior Securities                                                                                                             |   | 30         |
| Item 4. (Removed and Reserved)                                                                                                                      |   | 30         |
| Item 5. Other Information                                                                                                                           |   | 30         |
| Item 6. Exhibits                                                                                                                                    |   | 31         |
| SIGNATURES                                                                                                                                          |   | 32         |

----

    

  

   

|                                           |   | December 31, |   |   | September 30, |   |
|------------------------------------------------|--------|--------------|--------|--------|---------------|--------|
|                                           |   | 2009         |   |   | 2010          |   |
|                                           |   |         |   |   | (Unaudited)   |   |
| ASSETS                                         |   |         |   |   |          |   |
|                                           |   |         |   |   |          |   |
| CURRENT ASSETS:                                |   |         |   |   |          |   |
| Cash and cash equivalents                      |   | $            | 15,363 |   |          | $      | 48,231 |   |
| Short-term deposit                             |   |         | 18,357 |   |          |   | 45,590 |   |
| Restricted cash                                |   |         | 769    |   |          |   | 1,516 |   |
| Trade receivables                              |   |         | 22,104 |   |          |   | 21,428 |   |
| Other accounts receivable and prepaid expenses |   |         | 1,972  |   |          |   | 3,729 |   |
|                                           |   |         |   |   |          |   |   |   |
| Total current assets                           |   |         | 58,565 |   |          |   | 120,494 |   |
|                                           |   |         |   |   |          |   |   |   |
| LONG-TERM ASSETS:                              |   |         |   |   |          |   |   |   |
| Marketable securities                          |   |         | 2,077  |   |          |   | 2,051 |   |
| Deferred taxes, net                            |   |         | 1,289  |   |          |   | 2,040 |   |
| Severance pay fund                             |   |         | 1,517  |   |          |   | 2,040 |   |
| Other long-term assets                         |   |         | 1,015  |   |          |   | 740 |   |
|                                           |   |         |   |   |          |   |   |   |
| Total long-term assets                         |   |         | 5,898  |   |          |   | 6,871 |   |
|                                           |   |         |   |   |          |   |   |   |
| PROPERTY AND EQUIPMENT, NET                    |   |         | 2,427  |   |          |   | 4,555 |   |
|                                           |   |         |   |   |          |   |   |   |
| Total assets                                   |   | $            | 66,890 |   |          | $      | 131,920 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | December 31, |    |   | September 30, |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|---------|--------|---------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | 2009         |    |   | 2010          |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |         |    |   | (Unaudited)   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                                                                                                                                                                                                                                                                                                                                         |   |         |    |   |          |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |         |    |   |          |   |
| CURRENT LIABILITIES:                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |         |    |   |          |   |
| Trade payables                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | $            | 1,001   |   |          | $      | 1,527 |   |
| Employees and payroll accruals                                                                                                                                                                                                                                                                                                                                                                                                                               |   |         | 4,686   |   |          |   | 4,101 |   |
| Other accounts payable                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |         | 4,053   |   |          |   | 3,183 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |         |    |   |          |   |   |   |
| Total current liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |         | 9,740   |   |          |   | 8,811 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |         |    |   |          |   |   |   |
| LONG-TERM LIABILITIES:                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |         |    |   |          |   |   |   |
| Accrued severance pay and other employee accruals                                                                                                                                                                                                                                                                                                                                                                                                            |   |         | 2,335   |   |          |   | 3,199 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |         |    |   |          |   |   |   |
| Total long-term liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |         | 2,335   |   |          |   | 3,199 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |         |    |   |          |   |   |   |
| COMMITMENTS AND CONTINGENCIES (Note 8)                                                                                                                                                                                                                                                                                                                                                                                                                       |   |         |    |   |          |   |   |   |
| STOCKHOLDERS' EQUITY (Note 4):                                                                                                                                                                                                                                                                                                                                                                                                                               |   |         |    |   |          |   |   |   |
| Stock capital:                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |         |    |   |          |   |   |   |
| Common stock of $ 0.001 par value - 19,200,000 shares authorized at December 31, 2009 and 88,000,000 (unaudited) at September 30, 2010; 11,573,706 and 21,668,289 (unaudited) shares issued at December 31, 2009 and September 30, 2010, respectively; 8,412,002 and 18,506,585 (unaudited) shares outstanding at December 31, 2009 and September 30, 2010, respectively.                                                                               |   |         | 12      |   |          |   | 22 |   |
| Series A-1 Convertible Preferred stock of $ 0.001 par value - 2,100,000 shares authorized at December 31, 2009 and no shares authorized at September 30, 2010 (unaudited); 2,068,966 shares issued and outstanding at December 31, 2009 and no shares issued and outstanding at September 30, 2010 (unaudited); Aggregate liquidation preference of $ 32,996 at December 31, 2009 and no aggregate liquidation preference at September 30, 2010 (unaudited). |   |         | 2       |   |          |   | - |   |
| Additional paid-in capital                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |         | 48,450  |   |          |   | 108,808 |   |
| Treasury stock at cost (3,161,704 shares of Common stock)                                                                                                                                                                                                                                                                                                                                                                                                    |   |         | (23,213 | )      |          |   | (23,213 | ) |
| Accumulated other comprehensive loss                                                                                                                                                                                                                                                                                                                                                                                                                         |   |         | (558    | )      |          |   | (252 | ) |
| Retained earnings                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |         | 30,122  |   |          |   | 34,545 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |         |    |   |          |   |   |   |
| Total stockholders' equity                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |         | 54,815  |   |          |   | 119,910 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |         |    |   |          |   |   |   |
| Total liabilities and stockholders' equity                                                                                                                                                                                                                                                                                                                                                                                                                   |   | $            | 66,890  |   |          | $      | 131,920 |   |

----

  

|                                                                                                       |   | Three months endedSeptember 30 |   |   | Nine months endedSeptember 30 |   |
|------------------------------------------------------------------------------------------------------------|--------|--------------------------------|--------|--------|-------------------------------|--------|
|                                                                                                       |   | 2009                           |   |   | 2010                          |   |   | 2009 |   |   | 2010 |   |
|                                                                                                       |   | (Unaudited)                    |   |
|                                                                                                       |   |                           |   |   |                          |   |   |   |   |   |   |   |
| Revenues                                                                                                   |   | $                              | 15,231 |   |                          | $      | 17,721 |   |   | $ | 42,643 |   |   | $ | 54,946 |   |
| Cost of revenues                                                                                           |   |                           | 819    |   |                          |   | 1,000 |   |   |   | 2,468 |   |   |   | 2,942 |   |
|                                                                                                       |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Gross profit                                                                                               |   |                           | 14,412 |   |                          |   | 16,721 |   |   |   | 40,175 |   |   |   | 52,004 |   |
|                                                                                                       |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Operating expenses:                                                                                        |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Research and development                                                                                   |   |                           | 1,795  |   |                          |   | 2,373 |   |   |   | 5,084 |   |   |   | 6,871 |   |
| Selling and marketing                                                                                      |   |                           | 9,134  |   |                          |   | 11,281 |   |   |   | 25,197 |   |   |   | 32,883 |   |
| General and administrative                                                                                 |   |                           | 1,448  |   |                          |   | 2,359 |   |   |   | 4,587 |   |   |   | 6,215 |   |
|                                                                                                       |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Total operating expenses                                                                                   |   |                           | 12,377 |   |                          |   | 16,013 |   |   |   | 34,868 |   |   |   | 45,969 |   |
|                                                                                                       |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Operating income                                                                                           |   |                           | 2,035  |   |                          |   | 708 |   |   |   | 5,307 |   |   |   | 6,035 |   |
| Financial income (expenses), net                                                                           |   |                           | 528    |   |                          |   | 771 |   |   |   | (86 | ) |   |   | 294 |   |
|                                                                                                       |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Income before income taxes                                                                                 |   |                           | 2,563  |   |                          |   | 1,479 |   |   |   | 5,221 |   |   |   | 6,329 |   |
| Income taxes                                                                                               |   |                           | 618    |   |                          |   | 491 |   |   |   | 1,371 |   |   |   | 1,906 |   |
|                                                                                                       |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                                                                                 |   |                           | 1,945  |   |                          |   | 988 |   |   |   | 3,850 |   |   |   | 4,423 |   |
|                                                                                                       |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Accretion of Preferred stock dividend preference                                                           |   |                           | (483   | )      |                          |   | (243 | ) |   |   | (1,126 | ) |   |   | (1,292 | ) |
|                                                                                                       |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Net income attributable to Common stockholders                                                             |   | $                              | 1,462  |   |                          | $      | 745 |   |   | $ | 2,724 |   |   | $ | 3,131 |   |
|                                                                                                       |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Net earnings per share:                                                                                    |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                       |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                                                                                      |   |                           | 0.17   |   |                          |   | 0.05 |   |   |   | 0.32 |   |   |   | 0.30 |   |
|                                                                                                       |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Diluted                                                                                                    |   |                           | 0.14   |   |                          |   | 0.04 |   |   |   | 0.27 |   |   |   | 0.23 |   |
|                                                                                                       |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average number of shares of Common stock used in computing net earnings per share (in thousands): |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                       |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                                                                                      |   |                           | 8,398  |   |                          |   | 13,923 |   |   |   | 8,394 |   |   |   | 10,322 |   |
|                                                                                                       |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Diluted                                                                                                    |   |                           | 14,192 |   |                          |   | 17,018 |   |   |   | 14,199 |   |   |   | 13,587 |   |

----

  

|                                                                              |   | Three months endedSeptember 30 |    |   | Nine months endedSeptember 30 |   |
|-----------------------------------------------------------------------------------|--------|--------------------------------|---------|--------|-------------------------------|--------|
|                                                                              |   | 2009                           |    |   | 2010                          |   |   | 2009 |   |   | 2010 |   |
|                                                                              |   | Unaudited                      |    |
| Cash flows from operating activities:                                             |   |                           |    |   |                          |   |   |   |   |   |   |   |
| Net income                                                                        |   | $                              | 1,945   |   |                          | $      | 988 |   |   | $ | 3,850 |   |   | $ | 4,423 |   |
| Adjustments to reconcile net income to net cash provided by operating activities: |   |                           |    |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation                                                                      |   |                           | 319     |   |                          |   | 508 |   |   |   | 896 |   |   |   | 1,350 |   |
| Compensation related to options granted to employees                              |   |                           | 822     |   |                          |   | 1,527 |   |   |   | 2,356 |   |   |   | 3,480 |   |
| Decrease in trade receivables                                                     |   |                           | 129     |   |                          |   | 2,523 |   |   |   | 1,538 |   |   |   | 833 |   |
| Increase in other accounts receivable and prepaid expenses                        |   |                           | (400    | )      |                          |   | (459 | ) |   |   | (602 | ) |   |   | (1,701 | ) |
| Decrease (increase) in deferred taxes                                             |   |                           | 200     |   |                          |   | (599 | ) |   |   | (201 | ) |   |   | (1,131 | ) |
| Decrease (increase) in other long-term assets                                     |   |                           | 17      |   |                          |   | 17 |   |   |   | 59 |   |   |   | (41 | ) |
| Increase (decrease) in trade payables                                             |   |                           | 36      |   |                          |   | 84 |   |   |   | (45 | ) |   |   | 294 |   |
| Increase (decrease) in employees and payroll accruals                             |   |                           | (152    | )      |                          |   | (646 | ) |   |   | 353 |   |   |   | (571 | ) |
| Increase (decrease) in other accounts payable                                     |   |                           | 755     |   |                          |   | (661 | ) |   |   | 780 |   |   |   | (877 | ) |
| Increase (decrease) in accrued severance pay and other employee accruals, net     |   |                           | (58     | )      |                          |   | 58 |   |   |   | (344 | ) |   |   | 332 |   |
| Decrease (increase) in accrued interest                                           |   |                           | (3      | )      |                          |   | 147 |   |   |   | - |   |   |   | 56 |   |
| Gain on disposal of property and equipment                                        |   |                           | (11     | )      |                          |   | - |   |   |   | (11 | ) |   |   | (50 | ) |
|                                                                              |   |                           |    |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Net cash provided by operating activities                                         |   |                           | 3,599   |   |                          |   | 3,487 |   |   |   | 8,629 |   |   |   | 6,397 |   |
|                                                                              |   |                           |    |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Cash flows from investing activities:                                             |   |                           |    |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Investments in marketable securities                                              |   |                           | (2,124  | )      |                          |   | - |   |   |   | (2,124 | ) |   |   | - |   |
| Proceeds from redemption of marketable securities                                 |   |                           | 343     |   |                          |   | - |   |   |   | 543 |   |   |   | - |   |
| Investment in short-term deposits                                                 |   |                           | (17,150 | )      |                          |   | (37,001 | ) |   |   | (17,650 | ) |   |   | (46,338 | ) |
| Expiration of short-term deposits                                                 |   |                           | -       |   |                          |   | 11,300 |   |   |   | - |   |   |   | 19,050 |   |
| Restricted cash                                                                   |   |                           | (766    | )      |                          |   | (423 | ) |   |   | (766 | ) |   |   | (2,080 | ) |
| Expiration of restricted cash                                                     |   |                           | -       |   |                          |   | 1,400 |   |   |   | - |   |   |   | 1,664 |   |
| Purchase of property and equipment                                                |   |                           | (153    | )      |                          |   | (805 | ) |   |   | (930 | ) |   |   | (3,191 | ) |
| Proceeds from sale of property and equipment                                      |   |                           | 87      |   |                          |   | - |   |   |   | 87 |   |   |   | 11 |   |
|                                                                              |   |                           |    |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Net cash used in investing activities                                             |   |                           | (19,763 | )      |                          |   | (25,529 | ) |   |   | (20,840 | ) |   |   | (30,884 | ) |
|                                                                              |   |                           |    |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Cash flows from financing activities:                                             |   |                           |    |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Proceeds from initial public offering, net of costs                               |   |                           | -       |   |                          |   | 57,028 |   |   |   | - |   |   |   | 56,402 |   |
| Proceeds from exercise of stock options and warrants                              |   |                           | 6       |   |                          |   | 629 |   |   |   | 16 |   |   |   | 951 |   |
|                                                                              |   |                           |    |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Net cash provided by financing activities                                         |   |                           | 6       |   |                          |   | 57,657 |   |   |   | 16 |   |   |   | 57,353 |   |
|                                                                              |   |                           |    |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Increase (decrease) in cash and cash equivalents                                  |   |                           | (16,158 | )      |                          |   | 35,615 |   |   |   | (12,195 | ) |   |   | 32,866 |   |
| Effects of exchange rate changes on cash and cash equivalents                     |   |                           | (26     | )      |                          |   | 152 |   |   |   | 440 |   |   |   | 2 |   |
| Cash and cash equivalents at beginning of period                                  |   |                           | 30,589  |   |                          |   | 12,464 |   |   |   | 26,160 |   |   |   | 15,363 |   |
|                                                                              |   |                           |    |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Cash and cash equivalents at end of period                                        |   | $                              | 14,405  |   |                          | $      | 48,231 |   |   | $ | 14,405 |   |   | $ | 48,231 |   |
|                                                                              |   |                           |    |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Supplemental disclosure of cash flow information:                                 |   |                           |    |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Cash paid and received during the period for:                                     |   |                           |    |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Income taxes paid                                                                 |   | $                              | 545     |   |                          | $      | 691 |   |   | $ | 1,591 |   |   | $ | 3,608 |   |
|                                                                              |   |                           |    |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Income taxes received                                                             |   | $                              | 1,098   |   |                          | $      | - |   |   | $ | 1,098 |   |   | $ | - |   |
|                                                                              |   |                           |    |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Purchase of property and equipment                                                |   | $                              | -       |   |                          | $      | 223 |   |   | $ | - |   |   | $ | 223 |   |

----

  

| NOTE 1:- | GENERAL |
|----------|---------|

|   | a. | MediaMind Technologies Inc. ("the Company") is a global provider of digital advertising campaign management solutions to media agencies and advertisers. The Company provides its customers with an integrated campaign management platform ("MediaMind") that helps advertisers and agencies simplify the complexities of managing their advertising budgets across multiple digital media channels and formats, including online, mobile, rich media, in-stream video, display and search. MediaMind provides the Company’s customers with the ability to plan, create, deliver, measure, track and optimize digital media campaigns. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | Initial Public Offering (“IPO”): |
|--------|----|----------------------------------------------|

| NOTE 2:- | SIGNIFICANT ACCOUNTING POLICIES |
|----------|---------------------------------|

|   | a. | Use of estimates: |
|--------|----|-------------------|

|   | b. | Interim financial information: |
|--------|----|--------------------------------|

----

| NOTE 2:- | SIGNIFICANT ACCOUNTING POLICIES (Cont.) |
|----------|-----------------------------------------|

|   | c. | Principles of consolidation: |
|--------|----|------------------------------|

|   | d. | Fair value measurements: |
|--------|----|--------------------------|

| NOTE 3:- | INCOME TAXES |
|----------|--------------|

| NOTE 4:- | STOCKHOLDER' EQUITY |
|----------|---------------------|

|   | a. | Stock Split: |
|--------|----|--------------|

----

| NOTE 4:- | STOCKHOLDER' EQUITY (Cont.) |
|----------|-----------------------------|

|   | b. | Stock options: |
|--------|----|----------------|

|                                                      |   |        | Three months endedSeptember 30 |   |   |   | Nine months endedSeptember 30 |   |
|-----------------------------------------------------------|--------|-------------|--------------------------------|--------|--------|--------|-------------------------------|--------|
|                                                      |   |        | 2009                           |   |   |   | 2010                          |   |   |   | 2009 |   |   |   | 2010 |   |
|                                                      |   | (Unaudited) |                           |
| Risk free interest                                        |   |        | 2.46%-3.14                     | %      |   |   | 1.08%-2.62                    | %      |   |   | 2.46%-3.6 | % |   |   | 1.08%-5.33 | % |
| Dividend yields                                           |   |        | 0                              | %      |   |   | 0                             | %      |   |   | 0 | % |   |   | 0 | % |
| Volatility                                                |   |        | 80                             | %      |   |   | 59%-84                        | %      |   |   | 80%-85 | % |   |   | 59%-84 | % |
| Expected term (in years)                                  |   |        | 4.8-7.0                        |   |   |   | 4.4-8.4                       |   |   |   | 4.8-7.0 |   |   |   | 4.4-8.4 |   |
| Weighted average fair value of Common stock at grant date |   | $           | 6.53                           |   |   | $      | 10.35                         |   |   | $ | 5.48 |   |   | $ | 11.04 |   |

|                                   |   | Three months endedSeptember 30 |   |   | Nine months endedSeptember 30 |   |
|----------------------------------------|--------|--------------------------------|--------|--------|-------------------------------|--------|
|                                   |   | 2009                           |   |   | 2010                          |   |   | 2009 |   |   | 2010 |   |
|                                   |   | (Unaudited)                    |   |
|                                   |   |                           |   |   |                          |   |   |   |   |   |   |   |
| Cost of revenues                       |   |                           | 6      |   |                          |   | 3 |   |   |   | 19 |   |   |   | 11 |   |
| Research and development expenses      |   |                           | 148    |   |                          |   | 275 |   |   |   | 431 |   |   |   | 653 |   |
| Selling and marketing expenses         |   |                           | 364    |   |                          |   | 479 |   |   |   | 1,022 |   |   |   | 1,384 |   |
| General and administrative expenses    |   |                           | 304    |   |                          |   | 770 |   |   |   | 884 |   |   |   | 1,432 |   |
| Total stock-based compensation expense |   |                           | 822    |   |                          |   | 1,527 |   |   |   | 2,356 |   |   |   | 3,480 |   |

----

| NOTE 4:- | STOCKHOLDER' EQUITY (Cont.) |
|----------|-----------------------------|

|                                              |   | Number of options |      |   | Weighted average exerciseprice |   |   | Weighted average remaining contractual term(years) |   |   | Aggregate intrinsicvalue |   |
|---------------------------------------------------|--------|-------------------|-----------|--------|--------------------------------|--------|--------|----------------------------------------------------|--------|--------|--------------------------|--------|
|                                              |   |              |      |   |                           |   |   |                                               |   |   |                     |   |
| Outstanding at January 1, 2010                    |   |              | 6,092,822 |   |                           | $      | 4.53   |                                               |   |   |                     |   |   |   |
| Granted                                           |   |              | 434,500   |   |                           | $      | 15.92  |                                               |   |   |                     |   |   |   |
| Exercised                                         |   |              | (293,982  | )      |                           | $      | 3.18   |                                               |   |   |                     |   |   |   |
| Forfeited and cancelled                           |   |              | (325,182  | )      |                           | $      | 6.07   |                                               |   |   |                     |   |   |   |
| Outstanding at September 30, 2010                 |   |              | 5,908,158 |   |                           | $      | 5.35   |                                               |   |   | 6.68                     |   |   | $ | 49,934 |   |
| Vested and expected to vest at September 30, 2010 |   |              | 5,307,560 |   |                           | $      | 4.85   |                                               |   |   | 6.41                     |   |   | $ | 47,791 |   |
| Exercisable at September 30, 2010                 |   |              | 4,252,092 |   |                           | $      | 3.94   |                                               |   |   | 5.89                     |   |   | $ | 41,905 |   |

----

| NOTE 4:- | STOCKHOLDER' EQUITY (Cont.) |
|----------|-----------------------------|

| Exercise price                       |   | Options outstanding as of September 30, 2010 |      |   | Weighted average remaining contractual life (years) |   |   | Weighted average exercise price |   |   | Options exercisable as of September 30, 2010 |   |   | Weighted average exercise price of exercisable options |      |
|--------------------------------------|--------|-------------------------------------------------------------|-----------|--------|--------------------------------------------------------------------|--------|--------|------------------------------------------------|--------|--------|--------------------------------------------------------|--------|--------|----------------------------------------------------------------------------|-----------|
| (unaudited)                          |   |
|                                 |   |                                                        |      |   |                                                               |   |   |                                           |   |   |                                                   |   |   |                                                                       |      |
| $     0.001 |   |                                                        | 314,758   |   |                                                               |   | 1.06   |                                           |   | $      | 0.001                                                  |   |   |                                                                       | 314,758   |   |   | $ | 0.001 |   |
| $     0.005 |   |                                                        | 349,872   |   |                                                               |   | 1.34   |                                           |   | $      | 0.005                                                  |   |   |                                                                       | 349,872   |   |   | $ | 0.005 |   |
| $     1.35  |   |                                                        | 285,318   |   |                                                               |   | 3.90   |                                           |   | $      | 1.35                                                   |   |   |                                                                       | 285,318   |   |   | $ | 1.35 |   |
| $     1.94  |   |                                                        | 11,000    |   |                                                               |   | 4.34   |                                           |   | $      | 1.94                                                   |   |   |                                                                       | 11,000    |   |   | $ | 1.94 |   |
| $     2.00  |   |                                                        | 38,034    |   |                                                               |   | 3.41   |                                           |   | $      | 2.00                                                   |   |   |                                                                       | 38,034    |   |   | $ | 2.00 |   |
| $     2.10  |   |                                                        | 44,000    |   |                                                               |   | 4.63   |                                           |   | $      | 2.10                                                   |   |   |                                                                       | 44,000    |   |   | $ | 2.10 |   |
| $     2.13  |   |                                                        | 353,720   |   |                                                               |   | 5.25   |                                           |   | $      | 2.13                                                   |   |   |                                                                       | 353,720   |   |   | $ | 2.13 |   |
| $     2.55  |   |                                                        | 424,320   |   |                                                               |   | 6.05   |                                           |   | $      | 2.55                                                   |   |   |                                                                       | 424,320   |   |   | $ | 2.55 |   |
| $     5.11  |   |                                                        | 840,744   |   |                                                               |   | 8.46   |                                           |   | $      | 5.11                                                   |   |   |                                                                       | 375,578   |   |   | $ | 5.11 |   |
| $     5.65  |   |                                                        | 1,745,148 |   |                                                               |   | 6.99   |                                           |   | $      | 5.65                                                   |   |   |                                                                       | 1,547,508 |   |   | $ | 5.65 |   |
| $     6.32  |   |                                                        | 261,824   |   |                                                               |   | 7.10   |                                           |   | $      | 6.32                                                   |   |   |                                                                       | 157,778   |   |   | $ | 6.32 |   |
| $     07.05      |   |                                                        | 339,920   |   |                                                               |   | 7.36   |                                           |   | $      | 7.05                                                   |   |   |                                                                       | 237,114   |   |   | $ | 7.05 |   |
| $     8.75       |   |                                                        | 465,000   |   |                                                               |   | 9.12   |                                           |   | $      | 8.75                                                   |   |   |                                                                       | 104,858   |   |   | $ | 8.75 |   |
| $     13.10      |   |                                                        | 109,500   |   |                                                               |   | 9.43   |                                           |   | $      | 13.10                                                  |   |   |                                                                       | 5,536     |   |   | $ | 13.10 |   |
| $     16.87      |   |                                                        | 325,000   |   |                                                               |   | 9.78   |                                           |   | $      | 16.87                                                  |   |   |                                                                       | 2,698     |   |   | $ | 16.87 |   |
|                                 |   |                                                        |      |   |                                                               |   |   |                                           |   |   |                                                   |   |   |                                                                       |      |   |   |   |   |   |
|                                 |   |                                                        | 5,908,158 |   |                                                               |   |   |                                           |   |   |                                                   |   |   |                                                                       | 4,252,092 |   |   |   |   |   |

----

| NOTE 5:- | NET EARNINGS PER SHARE |
|----------|------------------------|

|   | a. | Numerator |
|--------|----|-----------|

|                                                         |   | Three months endedSeptember 30 |   |   | Nine months endedSeptember 30 |   |
|--------------------------------------------------------------|--------|--------------------------------|--------|--------|-------------------------------|--------|
|                                                         |   | 2009                           |   |   | 2010                          |   |   | 2009 |   |   | 2010 |   |
|                                                         |   | (Unaudited)                    |   |
|                                                         |   |                           |   |   |                          |   |   |   |   |   |   |   |
| Net income as reported                                       |   |                           | 1,945  |   |                          |   | 988 |   |   |   | 3,850 |   |   |   | 4,423 |   |
|                                                         |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Deduct:                                                      |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Accretion of series A-1 Preferred stock dividend preference  |   |                           | (483   | )      |                          |   | (243 | ) |   |   | (1,126 | ) |   |   | (1,292 | ) |
|                                                         |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Numerator for basic net earnings per share of Common stock   |   |                           | 1,462  |   |                          |   | 745 |   |   |   | 2,724 |   |   |   | 3,131 |   |
|                                                         |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Add:                                                         |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Series A-1 Preferred stock dividend preference               |   |                           | 483    |   |                          |   | - |   |   |   | 1,126 |   |   |   | - |   |
|                                                         |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Numerator for diluted net earnings per share of Common stock |   |                           | 1,945  |   |                          |   | 745 |   |   |   | 3,850 |   |   |   | 3,131 |   |

----

| NOTE 5:- | NET EARNINGS PER SHARE (Cont.) |
|----------|--------------------------------|

|   | b. | Denominator (in thousands) |
|--------|----|----------------------------|

|                                                     |   | Three months endedSeptember 30 |   |   | Nine months endedSeptember 30 |   |
|----------------------------------------------------------|--------|--------------------------------|--------|--------|-------------------------------|--------|
|                                                     |   | 2009                           |   |   | 2010                          |   |   | 2009 |   |   | 2010 |   |
|                                                     |   | (Unaudited)                    |   |
|                                                     |   |                           |   |   |                          |   |   |   |   |   |   |   |
| Weighted average number of shares of Common stock        |   |                           | 8,398  |   |                          |   | 13,923 |   |   |   | 8,394 |   |   |   | 10,322 |   |
| Denominator for basic income per share of Common stock   |   |                           | 8,398  |   |                          |   | 13,923 |   |   |   | 8,394 |   |   |   | 10,322 |   |
|                                                     |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Add:                                                     |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
|                                                     |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Employee stock options and warrants                      |   |                           | 1,435  |   |                          |   | 3,095 |   |   |   | 1,446 |   |   |   | 3,265 |   |
| Series A-1 Preferred stock conversion                    |   |                           | 4,359  |   |                          |   | - |   |   |   | 4,359 |   |   |   | - |   |
| Denominator for diluted income per share of Common stock |   |                           | 14,192 |   |                          |   | 17,018 |   |   |   | 14,199 |   |   |   | 13,587 |   |

|                             |   | Three months endedSeptember 30 |   |   | Nine months endedSeptember 30 |   |
|----------------------------------|--------|--------------------------------|--------|--------|-------------------------------|--------|
|                             |   | 2009                           |   |   | 2010                          |   |   | 2009 |   |   | 2010 |   |
|                             |   | (Unaudited)                    |   |
|                             |   |                           |   |   |                          |   |   |   |   |   |   |   |
| Series A-1 Preferred stock       |   |                           | -      |   |                          |   | 4,359 |   |   |   | - |   |   |   | 4,359 |   |
|                             |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Options to purchase Common stock |   |                           | 3,174  |   |                          |   | 434 |   |   |   | 3,747 |   |   |   | 434 |   |

----

| NOTE 6:- | GEOGRAPHIC INFORMATION |
|----------|------------------------|

|                                                  |   | Three months endedSeptember 30 |   |   | Nine months endedSeptember 30 |   |
|-------------------------------------------------------|--------|--------------------------------|--------|--------|-------------------------------|--------|
|                                                  |   | 2009                           |   |   | 2010                          |   |   | 2009 |   |   | 2010 |   |
|                                                  |   | (Unaudited)                    |   |
|                                                  |   |                           |   |   |                          |   |   |   |   |   |   |   |
| Revenues:                                             |   |                           |   |   |                          |   |   |   |   |   |   |   |
| Unites States                                         |   |                           | 4,388  |   |                          |   | 5,173 |   |   |   | 10,672 |   |   |   | 15,112 |   |
| Europe, Middle East and Africa (EMEA) (excluding U.K) |   |                           | 5,173  |   |                          |   | 6,064 |   |   |   | 14,857 |   |   |   | 19,668 |   |
| U.K                                                   |   |                           | 2,401  |   |                          |   | 2,165 |   |   |   | 8,037 |   |   |   | 7,852 |   |
| Asia Pacific (APAC)                                   |   |                           | 2,434  |   |                          |   | 3,050 |   |   |   | 6,639 |   |   |   | 8,690 |   |
| Latin America                                         |   |                           | 565    |   |                          |   | 929 |   |   |   | 1,405 |   |   |   | 2,493 |   |
| Canada                                                |   |                           | 270    |   |                          |   | 340 |   |   |   | 1,033 |   |   |   | 1,131 |   |
|                                                  |   |                           |   |   |                          |   |   |   |   |   |   |   |   |   |   |   |
|                                                  |   |                           | 15,231 |   |                          |   | 17,721 |   |   |   | 42,643 |   |   |   | 54,946 |   |

|               |   | December 31, |   |   | September 30, |   |
|--------------------|--------|--------------|--------|--------|---------------|--------|
|               |   | 2009         |   |   | 2010          |   |
|               |   |         |   |   | (Unaudited)   |   |
|               |   |         |   |   |          |   |
| Long-lived assets: |   |         |   |   |          |   |
| United States      |   | $            | 861    |   |          | $      | 2,278 |   |
| Europe             |   |         | 437    |   |          |   | 541 |   |
| Israel             |   |         | 1,005  |   |          |   | 1,598 |   |
| Other              |   |         | 124    |   |          |   | 138 |   |
|               |   |         |   |   |          |   |   |   |
|               |   | $            | 2,427  |   |          | $      | 4,555 |   |

----

| NOTE 7:- | DERIVATIVE INSTRUMENTS |
|----------|------------------------|

----

| NOTE 9: | MARKETABLE SECURITIES |
|---------|-----------------------|

|                 |   | December 31, 2009 |   |
|----------------------|--------|-------------------|--------|
|                 |   | Amortized cost    |   |   | Gross unrealized gains |   |   | Gross unrealized losses |   |   | Fair value |   |
|                 |   |              |   |   |   |   |   |   |   |   |   |   |
| Corporate debentures |   | $                 | 2,077  |   |   | $ | 29 |   |   | $ | - |   |   | $ | 2,106 |   |

|                 |   | September 30, 2010 |   |
|----------------------|--------|--------------------|--------|
|                 |   | Amortized cost     |   |   | Gross unrealized gains |   |   | Gross unrealized losses |   |   | Fairvalue |   |
|                 |   |               |   |   | (Unaudited) |   |   |   |   |   |   |   |
|                 |   |               |   |   |   |   |   |   |   |   |   |   |
| Corporate debentures |   | $                  | 2,051  |   |   | $ | 66 |   |   | $ | - |   |   | $ | 2,117 |   |

----

  

----

|   | • | Any change in the number of advertisers using our services. |
|--------|---------|-------------------------------------------------------------|

|   | • | The extent to which our customers use our services. Customers may choose to adopt MediaMind as an end-to-end solution for all campaigns they run and across different channels of digital media they use (which customers we refer to as “platform customers”), or they can select MediaMind to run specific campaigns on a specific channel or specific publisher, or may only use us for a portion of the services that we offer (which customers we refer to as “non-platform customers”). Our customer engagements, with both platform and non-platform customers, could be pursuant to long-term agreements (usually twelve months) or on a per-campaign basis. We believe platform customers are more likely to buy additional services from us as they have increased exposure to the value of the capabilities and services that we provide. We have increased our revenues in standard display ads, as a result of a strategy to provide additional services to existing platform customers. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | The geographic distribution of our revenues. We deliver campaigns across publishers in 59 countries and believe that geographic diversification is an important strength. In the nine months ended September 30, 2010 and 2009, 50% and 54% of our revenues were from Europe, the Middle East and Africa (“EMEA”), 30% and 27% were from North America, 16% were from Asia Pacific and 4% and 3% were from Latin America. In some territories, we sell our services utilizing local selling agents. We generally add a local selling agent in new territories where we believe that we will be able to achieve faster penetration utilizing a local selling agent than through the buildout of our own infrastructure. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • | Our estimated market share relative to the addressable campaign management opportunity. We measure the total digital media that our clients manage through our solutions and the estimated share that it represents of total digital media spend. Based on our estimates, we have gained market share in recent years. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

|                             |   | Three Months Ended September 30 |   |   | Nine Months Ended September 30, |   |
|----------------------------------|--------|---------------------------------|--------|--------|---------------------------------|--------|
|                             |   | 2009                            |   |   | 2010                            |   |   | 2009 |   |   | 2010 |   |
|                             |   | Amount                          |   |   | % ofrevenues               |   |   | Amount |   |   | % ofrevenues |   |   | Amount |   |   | % ofrevenues |   |   | Amount |   |   | % ofrevenues |   |
|                             |   |                            |   |   |                            |   |   |   |   |   |   |   |   | (unaudited) |   |
| Revenues                         |   | $                               | 15,231 |   |                            |   | 100 | % |   | $ | 17,721 |   |   |   | 100 | % |   | $ | 42,643 |   |   |   | 100 | % |   | $ | 54,946 |   |   |   | 100 | % |
| Cost of revenues                 |   |                            | 819    |   |                            |   | 5 |   |   |   | 1,000 |   |   |   | 6 |   |   |   | 2,468 |   |   |   | 6 |   |   |   | 2,942 |   |   |   | 5 |   |
|                             |   |                            |   |   |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross profit                     |   | $                               | 14,412 |   |                            |   | 95 | % |   | $ | 16,721 |   |   |   | 94 | % |   | $ | 40,175 |   |   |   | 94 | % |   |   |   |   |   |   | 95 | % |
|                             |   |                            |   |   |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating expenses:              |   |                            |   |   |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Research and development         |   | $                               | 1,795  |   |                            |   | 12 | % |   | $ | 2,373 |   |   |   | 13 | % |   | $ | 5,048 |   |   |   | 12 | % |   | $ | 6,871 |   |   |   | 13 | % |
| Selling and marketing            |   |                            | 9,134  |   |                            |   | 60 |   |   |   | 11,281 |   |   |   | 64 |   |   |   | 25,197 |   |   |   | 59 |   |   |   | 32,883 |   |   |   | 60 |   |
| General and administrative       |   |                            | 1,448  |   |                            |   | 10 |   |   |   | 2,359 |   |   |   | 13 |   |   |   | 4,587 |   |   |   | 11 |   |   |   | 6,215 |   |   |   | 11 |   |
|                             |   |                            |   |   |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating expenses               |   |                            | 12,377 |   |                            |   | 82 |   |   |   | 16,013 |   |   |   | 90 |   |   |   | 34,868 |   |   |   | 82 |   |   |   | 45,969 |   |   |   | 84 |   |
|                             |   |                            |   |   |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating income                 |   |                            | 2,035  |   |                            |   | 13 |   |   |   | 708 |   |   |   | 4 |   |   |   | 5,307 |   |   |   | 12 |   |   |   | 6,035 |   |   |   | 11 |   |
| Financial income (expenses), net |   |                            | 528    |   |                            |   | 4 |   |   |   | 771 |   |   |   | 4 |   |   |   | (86 | ) |   |   | 0 |   |   |   | 294 |   |   |   | 1 |   |
|                             |   |                            |   |   |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income before income taxes       |   |                            | 2,563  |   |                            |   | 17 |   |   |   | 1,479 |   |   |   | 8 |   |   |   | 5,221 |   |   |   | 12 |   |   |   | 6,329 |   |   |   | 12 |   |
| Income taxes                     |   |                            | 618    |   |                            |   | 4 |   |   |   | 491 |   |   |   | 3 |   |   |   | 1,371 |   |   |   | 3 |   |   |   | 1,906 |   |   |   | 4 |   |
|                             |   |                            |   |   |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                       |   | $                               | 1,945  |   |                            |   | 13 | % |   | $ | 988 |   |   |   | 5 | % |   | $ | 3,850 |   |   |   | 9 | % |   | $ | 4,423 |   |   |   | 8 | % |

----

|                |   | 2009                                                         |              |   | 2010               |   |   | Period overPeriodChange |   |
|---------------------|--------|--------------------------------------------------------------|-------------------|--------|--------------------|--------|--------|-------------------------|--------|
|                |   |  Amount                                                 |              |   | % of revenues |   |   |   Amount           |   |   | % of revenues |   |   |   |
|                |   |                                                         |  (unaudited) |   |               |   |   |
|                |   |    (U.S. dollars in thousands, except percentages) |
| EMEA                |   |                                                         |              |   |               |   |   |                    |   |   |   |   |   |   |   |   |   |   |
| United Kingdom      |   | $                                                            | 2,401             |   |               |   | 16     | %                       |   | $ | 2,165 |   |   |   | 12 | %  |   | $ | (236 | ) |   |   | (10 | )% |
| Other               |   |                                                         | 5,173             |   |               |   | 34     |                    |   |   | 6,064 |   |   |   | 35 |   |   |   | 891 |   |   |   | 17 |   |
|                |   |                                                         |              |   |               |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total EMEA          |   |                                                         | 7,574             |   |               |   | 50     |                    |   |   | 8,229 |   |   |   | 47 |   |   |   | 655 |   |   |   | 9 |   |
| North America       |   |                                                         |              |   |               |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| United States       |   |                                                         | 4,388             |   |               |   | 29     |                    |   |   | 5,173 |   |   |   | 29 |   |   |   | 785 |   |   |   | 18 |   |
| Canada              |   |                                                         | 270               |   |               |   | 1      |                    |   |   | 340 |   |   |   | 2 |   |   |   | 70 |   |   |   | 26 |   |
|                |   |                                                         |              |   |               |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Asia Pacific (APAC) |   |                                                         | 2,434             |   |               |   | 16     |                    |   |   | 3,050 |   |   |   | 17 |   |   |   | 616 |   |   |   | 25 |   |
| Latin America       |   |                                                         | 565               |   |               |   | 4      |                    |   |   | 929 |   |   |   | 5 |   |   |   | 364 |   |   |   | 64 |   |
|                |   |                                                         |              |   |               |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                |   | $                                                            | 15,231            |   |               |   | 100    | %                  |   | $ | 17,721 |   |   |   | 100 | %  |   | $ | 2,490 |   |   |   | 16 | % |

|             | 2009                                                                     |   | 2010 |   | Period over Period Change |   |
|------------------|--------------------------------------------------------------------------|--------|------|--------|------------------------------------------|--------|
|             | (unaudited)                                                              |   |
|             | (U.S. dollars in thousands, except percentages) |   |
| Cost of revenues |                                                                     | $      | 819  |   |                                     | $      | 1,000 |   |   | $ | 181 |   |   |   | 22 | %  |

----

|                       |   | 2009                                            |   |   | 2010   |   |   | Period over Period Change |   |
|----------------------------|--------|-------------------------------------------------|--------|--------|--------|--------|--------|------------------------------------------|--------|
|                       |   | (unaudited)                                     |   |
|                       |   | (U.S. dollars in thousands, except percentages) |   |
| Research and development   |   | $                                               | 1,795  |   |   | $      | 2,373  |                                     |   | $ | 578 |   |   |   | 32 | %  |
| Selling and marketing      |   |                                            | 9,134  |   |   |   | 11,281 |                                     |   |   | 2,147 |   |   |   | 24 |   |
| General and administrative |   |                                            | 1,448  |   |   |   | 2,359  |                                     |   |   | 911 |   |   |   | 63 |   |
|                       |   |                                            |   |   |   |   |   |                                     |   |   |   |   |   |   |   |   |
| Total operating expenses   |   | $                                               | 12,377 |   |   | $      | 16,013 |                                     |   | $ | 3,636 |   |   |   | 29 | %  |

----

|                  |   | 2009                                                                           |   |   | 2010   |   |   | Period over Period Change |   |
|-----------------------|--------|--------------------------------------------------------------------------------|--------|--------|--------|--------|--------|------------------------------------------|--------|
|                  |   | (unaudited)                                                                    |   |
|                  |   | (U.S. dollars in thousands, except percentages)  |   |
| Financial income, net |   | $                                                                              | 528    |   |   | $      | 771    |                                     |   | $ | 243 |   |   |   | 46 | %  |

|         |   | 2009                                                                           |   |   | 2010   |   |   | Period over Period Change  |   |
|--------------|--------|--------------------------------------------------------------------------------|--------|--------|--------|--------|--------|------------------------------------------------|--------|
|         |   | (unaudited)                                                                    |   |
|         |   | (U.S. dollars in thousands, except percentages)  |   |
| Income taxes |   | $                                                                              | 618    |   |   | $      | 491    |                                           |   | $ | (127 | ) |   |   | (21 | ) %  |

----

|                |   | 2009                                                  |   |   | 2010                    |   |   |  Period over Period Change |   |
|---------------------|--------|-------------------------------------------------------|--------|--------|-------------------------|--------|--------|-------------------------------------------|--------|
|                |   | Amount                                                |   |   | % of revenues |   |   | Amount                                    |   |   | % of revenues |   |   |   |
|                |   | (unaudited)                                           |   |
|                |   | (U.S. dollars in thousands, except percentages)  |   |
| EMEA                |   |                                                  |   |   |                    |   |   |                                      |   |   |   |   |   |   |   |   |   |   |
| United Kingdom      |   | $                                                     | 8,037  |   |                    |   | 19     | %                                    |   | $ | 7,852 |   |   |   | 14 | %  |   | $ | (185 | ) |   |   | (2 | ) %  |
| Other               |   |                                                  | 14,857 |   |                    |   | 35     |                                      |   |   | 19,668 |   |   |   | 36 |   |   |   | 4,811 |   |   |   | 32 |   |
|                |   |                                                  |   |   |                    |   |   |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total EMEA          |   |                                                  | 22,894 |   |                    |   | 54     |                                      |   |   | 27,520 |   |   |   | 50 |   |   |   | 4,626 |   |   |   | 20 |   |
| North America       |   |                                                  |   |   |                    |   |   |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| United States       |   |                                                  | 10,672 |   |                    |   | 25     |                                      |   |   | 15,112 |   |   |   | 28 |   |   |   | 4,440 |   |   |   | 42 |   |
| Canada              |   |                                                  | 1,033  |   |                    |   | 2      |                                      |   |   | 1,131 |   |   |   | 2 |   |   |   | 98 |   |   |   | 9 |   |
|                |   |                                                  |   |   |                    |   |   |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total North America |   |                                                  | 11,705 |   |                    |   | 27     |                                      |   |   | 16,243 |   |   |   | 30 |   |   |   | 4,538 |   |   |   | 39 |   |
| Asia Pacific (APAC) |   |                                                  | 6,639  |   |                    |   | 16     |                                      |   |   | 8,690 |   |   |   | 16 |   |   |   | 2,051 |   |   |   | 31 |   |
| Latin America       |   |                                                  | 1,405  |   |                    |   | 3      |                                      |   |   | 2,493 |   |   |   | 4 |   |   |   | 1,088 |   |   |   | 77 |   |
|                |   |                                                  |   |   |                    |   |   |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                |   | $                                                     | 42,643 |   |                    |   | 100    | %                                    |   | $ | 54,946 |   |   |   | 100 | %  |   | $ | 12,303 |   |   |   | 29 | %  |

----

|             |   | 2009                                                                           |   |   | 2010   |   |   | Period over Period Change |   |
|------------------|--------|--------------------------------------------------------------------------------|--------|--------|--------|--------|--------|------------------------------------------|--------|
|             |   | (unaudited)                                                                    |   |
|             |   | (U.S. dollars in thousands, except percentages)  |   |
| Cost of revenues |   | $                                                                              | 2,468  |   |   | $      | 2,942  |                                     |   | $ | 474 |   |   |   | 19 | %  |

|                       |   |                                                  |   |   |   |   |   |                                     |   |   |   |   |
|----------------------------|--------|-------------------------------------------------------|--------|--------|--------|--------|--------|------------------------------------------|--------|--------|--------|--------|
|                       |   | 2009                                                  |   |   | 2010   |   |   | Period over Period Change |   |
|                       |   | (unaudited)                                           |   |
|                       |   | (U.S. dollars in thousands, except percentages)  |   |
| Research and development   |   | $                                                     | 5,084  |   |   | $      | 6,871  |                                     |   |   | 1,787  |   |   |   | 35 | %  |
| Selling and marketing      |   |                                                  | 25,197 |   |   |   | 32,883 |                                     |   |   | 7,686  |   |   |   | 31 |   |
| General and administrative |   |                                                  | 4,587  |   |   |   | 6,215  |                                     |   |   | 1,628  |   |   |   | 35 |   |
|                       |   |                                                  |   |   |   |   |   |                                     |   |   |   |   |   |   |   |   |
| Total operating expenses   |   | $                                                     | 34,868 |   |   | $      | 45,969 |                                     |   |   | 11,101 |   |   |   | 32 | %  |

----

|                             |   | 2009                                                                           |   |   | 2010   |   |   | Period over Period Change |   |
|----------------------------------|--------|--------------------------------------------------------------------------------|--------|--------|--------|--------|--------|------------------------------------------|--------|
|                             |   | (unaudited)                                                                    |   |
|                             |   | (U.S. dollars in thousands, except percentages)  |   |
| Financial income (expenses), net |   | $                                                                              | (86    | )      |   | $      | 294    |                                     |   | $ | 380 |   |

|         | 2009                                                                           |   | 2010  |   | Period over Period Change  |   |
|--------------|--------------------------------------------------------------------------------|--------|-------|--------|------------------------------------------------|--------|
|         | (unaudited)                                                                    |   |
|         | (U.S. dollars in thousands, except percentages)  |   |
| Income taxes |                                                                           | $      | 1,371 |   |                                           | $      | 1,906 |   |   | $ | 535 |   |   |   | 39 | %  |

----

| ·   | our plans to grow our business and customer base; |
|--------------------|---------------------------------------------------|

| ·   | our ability to respond to new market development; |
|--------------------|---------------------------------------------------|

| ·   | our intent to migrate our non-platform customers to platform customers; |
|--------------------|-------------------------------------------------------------------------|

| ·   | our expectations that our revenues will continue to increase; |
|--------------------|---------------------------------------------------------------|

| ·   | our belief in the sufficiency of our cash flows to meet our needs for the next year; |
|--------------------|--------------------------------------------------------------------------------------|

| ·   | our plans to invest in emerging media solutions; |
|--------------------|--------------------------------------------------|

| ·   | our plans to continue to expand our international presence; and |
|--------------------|-----------------------------------------------------------------|

| ·   | our expectations regarding our future product mix. |
|--------------------|----------------------------------------------------|

----

  

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| 10.1  | Joinder Agreement. |
|------------|--------------------|

| 31.1  | Certification by the Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|------------|-------------------------------------------------------------------------------------------------------------|

| 31.2  | Certification by the Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|------------|-------------------------------------------------------------------------------------------------------------|

| 32.1 | Certification by the Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.2 | Certification by the Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

  

|                          | MEDIAMIND TECHNOLOGIES INC. |                                                                                         |
|-------------------------------|-----------------------------|----------------------------------------------------------------------------------------------|
|                          |                        |                                                                                         |   |
|                          | By:                         | /s/ Sarit Firon                                                                         |   |
|                          |                        | Name: Sarit Firon                                                                            |   |
|  Date: November 15, 2010 |                        | Title: Chief Financial Officer(Principal Financial Officer and Principal Accounting Officer) |   |

----

----