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M stands for the latin mille, which means 1000. So million is abbreviated as MM for 1000x1000.

Thanks, same usage as CPM then.

The explanations are right, but I find $1m to be less noisy. The $1MM usage is firmly entrenched in finance, though.

Not a stupid question at all. It bugs me too.

For some online & finance things M = 1 thousand (like CPM, cost per 1,000 impressions). So MM means 1 thousand, 1 thousands = 1 million.

Surely the raising of $1,000 ($1M) would not make the news.

Not sure what you mean - they raised $1mm and I was answering the person's question why MM means million.

I think he means there's no chance $1M could be mistaken for $1000 in this context.

You're confusing me, I opened this thread amazed someone could raise 1 billion.

Now I'm quite happy that M = 1,000 and m = 1,000,000, and you're throwing me off with $1mm now.