The Meet Group Information, Statistics, Facts and History

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The Meet Group, Inc. History Summary

The Meet Group originally got it's start as myYearbook in 2005. It was created by David and Catherine Cook. In 2011 myYearbook was acquired by Latino social networking site Quepasa. In the next year Quepasa was rebranded (along with myYearBook) and called MeetMe.

In the following years MeetMe continued to grow thanks in large part of them concentrating on the mobile market and user engagement. Late in 2016 MeetMe acquired Skout for about $54.6 million. Soon after in 2017 MeetMe closed another acquisition for if(we) (which owned hi5 and Tagged) for $60 million. Within a few weeks of acquiring if(we) MeetMe rebranded to The Meet Group (while still keeping the same names for the MeetMe apps and website). The Meet Group became the parent company of the MeetMe, Skout, Tagged, and Hi5 brands. In 2017 The Meet Group once again acquired another dating company. This time it was the German dating app Lovoo for $70 million.

By 2018 The Meet Group had consolidated all of the technology used by their acquisitions making it easier to manage all their dating brands. At this point they really started to concentrate on live streaming and allowing their members to broadcast live video to many other members. This soon became a primary source of revenue for The Meet Group as users can send purchased virtual gifts to their favorite Broadcasters. The live streaming technology was also licensed to Plenty of Fish for an undisclosed sum.

In 2020 The Meet Group announced it will be acquired by Parship Group for an approx value of $500 million.

The Meet Group Inc. stock is publicly listed on the NASDAQ stock exchange under the ticker symbol “MEET”.

The Meet Group, Inc. Facts By Year

2021

• General Information
  • MeetMe has added the ability for users to login with their TikTok accounts, as well as to share videos in a TikTok Carousel feature. [1]
  • The Meet Group has partnered with queer social network Hornet to offer its 35 million users livestream options, as well as with competitor Sparks Network’s popular Zoosk dating app. [1]

References

1. ParshipMeet Group to Launch IPO

2020

• General Information
  • The Meet Group plans to go live with the new biometric verification system (3D Face Verification) across their portfolio of dating apps starting in Q2 2020. [2]
  • Plenty of Fish has licensed the use of The Meet Group's Livestreaming technology. [4]
  • The Meet Group launches 1 on 1 live video chat on Growlr. [5]
  • In a 2 week period on Growlr over 50,000 members have engaged with live video, with an average of 15,000 members using Live every day. [5]
  • The Meet Group has partnered with UrSafe to offer users an array of new security options when they date. This includes features like Follow Me, Check In, Hands-Free SOS, and Fake Call. [6]
  • The Meet Group adds Blind Date to the NextDate game for MeetMe, Skout, and Tagged. [7]
  • NextDate on average gets played over 100,000 times everyday (this includes users from POF as well). [8]
  • The Meet Group has announced that it has added a 3D face authentication-powered verification badge to its platforms. The new badge uses AI technology in authenticating that the account belongs to a real person when a selfie is taken. [10]
• Finances
  • The Meet Group has announced that they have entered a definitive agreement with NuCom Group to proceed with an acquisition. NuCom will pay $6.30 a share in the deal, putting an enterprise value on Meet Group of approximately $500 million. [3]
  • For quarter 2 The Meet Group had a net income at $10.3 million, up from $2.2 million in the same period last year (a 373% increase). [9]
  • Video revenue went from 21.3 million (40.9% of all revenue) in 2019 to 61.4 million (67.9% of revenue) in 2020. [9]
  • The NuCom acquisition is expected to close before 2021. [9]
• Legal
  • The House Oversight and Reform subcommittee on economic and consumer policy from the U.S. House of Representatives is investigating popular dating apps including those owned by The Meet Group. [1]

References

1. Dating Apps Face Investigation by US House of Representatives Over Safety Issues
2. The Meet Group Announces 3D Face Verification
3. The Meet Group Announces Acquisition by ProSiebenSat.1 Media SE
4. Plenty of Fish Adds Livestream Feature
5. GROWLr Introduces Live Video Chatting
6. The Meet Group Partners with URSafe to Offer Users More Safety options
7. Plenty of Fish Adds a New Blind Date Game to its Platform
8. eHarmony Registrations up 85 Percent During Coronavirus Lockdowns
9. The Meet Group Exceeds Profit and Revenue Expectations in Q2
10. The Meet Group Adds Face Verification Feature 

2019

• General Information
  • The Meet Group introduces 1 on 1 live video to a number of their brands. [4]
  • The Meet Group launches the NextDate dating game on a number of their brands that allows members to take on the role of a contestant in a speed dating show. [5]
• Finances
  • The Meet Group acquires Growlr for $11.8 million using a combination of $4.8 million in cash and $7 million from its existing line of credit. [1]
  • The company saw a Q4, 2018 total revenue of $52.5 million, an increase of 31% year over year. Total revenue for the year 2018 reached $178.6 million, which is up 44% compared to 2017. [1]
  • For Q1 2019, The Meet Group reported revenue of $49.5 million, an increase of 32% from Q1 of 2018. [2]
  • For Q2 2019, the Meet Group reported revenue of $52 million which is an increase of 22% compared to the same quarter as last year. [3]

References

1. The Meet Group Announces Acquisition Of Gay Social Networking App Growlr
2. The Meet Group Reports First Quarter 2019 Financial Results
3. The Meet Group Reports Q2 2019 Financial Results
4. The Meet Group Announces Updates To MeetMe App
5. The Meet Group Launches NextDate, A New Livestreaming Dating Game

2018

• General Information
  • During the month of September daily live video users averaged 900,000, of those 125,000 were broadcasting a video. This is an increase of 20% when compared to July. [1]
  • Daily Live video users also account for 20% of all mobile daily active users. [1]
  • In September the total daily time users spent in Live video feeds was more than 25 million minutes. [1]
  • To increase user engagement The Meet Group has introduced Live Video Battles to a number of their apps. The feature brings together two livestreamers and their audiences for a live showdown. The competitors can challenge each other in a variety of categories ranging from music, to dance, to comedy and more. [2]
• Finances
  • The Live video business of Meet Group grew from zero last October in 2017 to $48 million as of September 2018. [1]

References

1. Meet Group Livestreaming Video Milestones Reached
2. Live Video Competition Battles Feature Rolls Out To MeetMe And Skout

2017

• General Information
  • MeetMe has acquired the company If(we) inc. for $60 million in cash. If(we) owns the dating and social services hi5 and Tagged. [1]
  • MeetMe introduced Live on March 30 in their MeetMe dating app. Live is a one-to-many video feature that allows users to broadcast themselves, watch other users’ broadcasts, and chat in real time. [2]
  • MeetMe changed their company name to The Meet Group, Inc. and completed a full rebrand on April 3rd. The Meet Group will be the parent company of the MeetMe, Skout, Tagged, and Hi5 brands, as well as the vehicle with which the company will pursue future acquisitions. [2]
  • The Meet Group expects to launch Live in the Skout app in a few months. [2]
• Finances
  • MeetMe acquires German dating app Lovoo for $70 million in cash. [3]

References

1. MeetMe Acquires Hi5 And Tagged For $60 Million In Cash
2. MeetMe Launches Live Video Beta And A Rebrand
3. German dating app Lovoo is acquired for $70M by The Meet Group

2016

• General Information
  • After the acquisition, Skout will remain a separate brand and standalone mobile application. Its headquarters will remain in San Francisco, CA. [1]
  • For Q2, 2016 mobile daily active users grew 15% year-over-year to 1.22 million on average. Total monthly active users reached 4.8 million a 32% increase year-over-year. [1]
• Finances
  • MeetMe acquires Skout for $28.5 million in cash and approximately 5.37 million common shares of MeetMe. This puts the acquisition at a value of $54.6 million based on MeetMe’s closing stock price on June 24, 2016. [1]
  • For Q2, 2016 revenue climbing 48% from last year to $16.4 million. Mobile revenue rose 82% to $15.1 million year-over-year. [1]

References

1. MeetMe Posts Q2 2016 Results And Acquires Skout

2013

• General Information
  • A significant update is planned for the MeetMe app in the first quarter of 2014. [1]
  • MeetMe launches new dating app called Charm. It is designed to compete with Tinder and swiping but uses videos instead of pictures. [2]
• Finances
  • MeetMe earned a total of $10.1 million in revenue for Q3 2013. [1]
  • Mobile revenue from apps was $2.9 million for quarter 3, 2013. This is up 65% year-over-year and 12% from Q2. [1]

References

1. The Big Four Release Third Quarter 2013 Financials
2. MeetMe Launches New Dating App Charm

2012

• General Information
  • myYearbook started in 2005 by Catherine and David Cook. [1]
  • Quepasa Corporation who owns myYearbook and Latin-American Quepasa, announced that the company and its affiliated brands are being consolidated and rebranded as MeetMe. [2]
  • myYearbook ranks in the top 40 most trafficked sites in the US by web page views, according to comScore. [2]
  • 60% of daily logins now coming from mobile devices. [2]

References

1. Nothing changes but the name!
2. Quepasa Corporation Announces Global Rebrand to MeetMe

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