Meet Group Inc (MEET)

Nice

(MEET) Alert: Johnson Fistel Investigates Proposed Sale of The Meet Group, Inc.; Is $6.30 a Fair Price?

Source: PR Newswire (US)

SAN DIEGO, March 5, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of The Meet Group, Inc. (NASDAQ: MEET) ("Meet Group" or the "Company") breached their fiduciary duties in connection with the proposed sale of the Company to ProSiebenSat.1 and General Atlantic.
On March 5, 2020, Meet Group announced that it had signed a definitive merger agreement with ProSiebenSat.1 and General Atlantic. Under the terms of the deal, Meet Group stockholders will receive $6.30 in cash.
The investigation concerns whether the Meet Group board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Meet Group shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts' projections for future earnings growth, and one Wall Street analyst has a $7.25 price target on the stock. The 52-week high for Meet Group was $7.00. 
If you are a shareholder of Meet Group and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
Additionally, you can [Click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
[Click here to join this action]
? View original content:http://www.prnewswire.com/news-releases/meet-alert-johnson-fistel-investigates-proposed-sale-of-the-meet-group-inc-is-6-30-a-fair-price-301017291.html
SOURCE Johnson Fistel, LLP

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Copyright 2020 PR Newswire

I believe they bought us out $6.30 a share.

So they are delisted? Did they move to OTC? what happens to shareholders?

Notification Filed by a National Securities Exchange to Report the Removal From Listing and Registration of Matured , Redeeme...

Source: Edgar (US Regulatory)



UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 25

 

NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION

UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Commission File Number: 001-33105


Issuer: THE MEET GROUP, INC.

Exchange: THE NASDAQ STOCK MARKET, LLC

(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)


100 Union Square Drive, New Hope, Pennsylvania 18938

(215) 862-1162

(Address, including zip code, and telephone number, including area code, of Issuer’s principal executive offices)


Series A Junior Participating Preferred Stock Purchase Rights (1)

(Description of class of securities) 

 

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from

listing and registration:

 

¨

17 CFR 240.12d2-2(a)(1)

 

¨

17 CFR 240.12d2-2(a)(2)

 

¨

17 CFR 240.12d2-2(a)(3)

 

¨

17 CFR 240.12d2-2(a)(4)

 

¨

Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange.

 

x

Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with the rules of the Exchange and the requirements of 17 CFR 240.12d2-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

(1)

Explanatory Note: The Series A Junior Participating Preferred Stock Purchase Rights (the “Expired Rights”) were issued in connection with The Meet Group, Inc.’s execution of a Tax Benefits Preservation Plan, dated as of October 4, 2019, as amended by Amendment No. 1 to the Tax Benefits Preservation Plan, dated as of March 5, 2020 (the “Tax Benefits Preservation Plan”), by and between The Meet Group, Inc., a Delaware corporation, and Action Stock Transfer Corporation, as Rights Agent. In connection with the closing on September 4, 2020 of the transactions contemplated by the Agreement and Plan of Merger, dated as of March 5, 2020 (the “Merger Agreement”), by and among The Meet Group, Inc., a Delaware corporation, eHarmony Holding, Inc., a Delaware corporation (“Parent”), Holly Merger Sub, Inc., a Delaware corporation and a direct, wholly-owned subsidiary of Parent, and, solely for the purpose of guaranteeing Parent’s obligations under the Merger Agreement as set forth therein, NCG – NUCOM GROUP SE, a European stock corporation, the Expired Rights expired and the Tax Benefits Preservation Plan was terminated. Accordingly, the Expired Rights are no longer in effect. The Meet Group, Inc. initially filed a Registration Statement on Form 8-A to register the Expired Rights on October 4, 2019, which was subsequently amended on March 5, 2020.

 

Pursuant to the requirements of the Securities Exchange Act of 1934, The Meet Group, Inc. certifies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this notification to be signed on its behalf by the undersigned duly authorized person.

 

 

THE MEET GROUP, INC.

 

 

 (Registrant)

Date: September 4, 2020

By:

/s/ Geoffrey Cook

 

 

Name: Geoffrey Cook

Title: Chief Executive Officer



38177.00024

ticker change?

The Meet Group to Participate in Upcoming Virtual Conferences App Promotion Summit USA and MGS Global Virtual Conference

Source: Business Wire
Featured Speakers Include Executives and Co-founders Geoff Cook and Catherine Connelly
The Meet Group, Inc. (NASDAQ: MEET), a leading provider of interactive dating solutions, will be participating in two upcoming virtual conferences. The App Promotion Summit USA and Mobile Growth Association’s MGS Global Virtual Conference will both take place in June 2020, the first welcoming The Meet Group’s Chief Executive Officer and Co-founder, Geoff Cook, and the latter, Senior Vice President of Marketing and Co-founder, Catherine Connelly.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200528005262/en/

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The Meet Group to Participate in Upcoming Virtual Conferences (Photo: Business Wire)

The App Promotion Summit USA, a week-long summit aimed at educating on growth marketing strategies and tactics led by North America’s top app promotion leaders, will feature several industry experts, including Mr. Cook. The event welcomes numerous noteworthy attendees, including NBCUniversal, Amazon, Nickelodeon, Snapchat, and Dropbox. Mr. Cook’s presentation will be on June 18, 2020 at 12:30 p.m. ET.
Beginning June 2, 2020, the Mobile Growth Summit Global Virtual Conference, hosted by the Mobile Growth Association, will feature over 100 keynote speakers from around the world. Ms. Connelly, whose presentation begins on June 3 at 11:45 a.m. ET, will discuss the company’s industry-leading feature, Live, and how knowing the user and brand led to the product’s success. Other speakers include representatives from Nextdoor, Reddit, LinkedIn, and Google.
Registration for both events can be found below.
Registration for the App Promotion Summit USA.
Registration for the Mobile Growth Summit Global Virtual Conference.
About The Meet Group
The Meet Group (NASDAQ: MEET) is a leading provider of interactive dating solutions designed to meet the universal need for human connection. Our ecosystem of livestreaming apps enables users around the world to interact through one-to-many livestreaming broadcasts and text-based conversations. Our top apps, MeetMe®, LOVOO®, Skout®, Tagged® and GROWLr®, deliver live interactions and meaningful connections to millions of users daily. Headquartered in New Hope, PA, we have offices in Philadelphia, San Francisco, Dresden, and Berlin. The Meet Group is committed to safety. You can find a description of current safety practices here: https://www.themeetgroup.com/safety-practices/. For more information, visit themeetgroup.com, and follow us on Facebook, Twitter or LinkedIn.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20200528005262/en/
Investor:
Leslie Arena / larena@themeetgroup.com
(267) 714-6418
Media:
Brandyn Bissinger / bbissinger@themeetgroup.com
(267) 446-7010
 

The Meet Group Reports First Quarter 2020 Financial Results

Source: Business Wire
The Meet Group, Inc. (NASDAQ: MEET), a leading provider of interactive livestreaming solutions, today reported financial results for its first quarter ended March 31, 2020.
First Quarter 2020 Highlights

Total revenue of $55.1 million, up 11% from the first quarter of 2019.

GAAP net loss of $2.4 million, or $0.03 per diluted share, compared with GAAP net income of $1.3 million, or $0.02 per diluted share in the first quarter of 2019.

Adjusted EBITDA of $7.9 million, compared with $8.1 million in the first quarter of 2019.

Non-GAAP net income of $6.7 million, or $0.09 per diluted share, compared with $7.0 million, or $0.09 per diluted share, in the first quarter of 2019.

Transaction with ProSiebenSat.1’s and General Atlantic’s joint company NuCom Group expected to close in the second half of 2020.

(See the important discussion about the presentation of non-GAAP financial measures, and reconciliation to the most direct comparable GAAP financial measures, below.)
“The need to connect has never been greater and live video is helping to meet that need,” said Geoff Cook, Chief Executive Officer of The Meet Group. “We are seeing the impacts of COVID-19 across our business as video revenue and minutes increased to new highs, while advertising revenue declined from the year ago period due to the growing effect of the coronavirus on ad spend. Total daily active users were largely unchanged sequentially. Adjusted EBITDA for the quarter reflects the impact of higher flow-through advertising dollars being replaced by video revenue growth.
“We are pleased with our performance in the first quarter and we continue to progress toward closing the transaction with ProSiebenSat.1 and General Atlantic in the second half of 2020.”
First Quarter Financial Results
For the first quarter of 2020, the Company reported revenue of $55.1 million, an increase of $5.6 million, or 11%, from $49.5 million in the first quarter of 2019. GAAP net loss for the first quarter of 2020 was $2.4 million, or $0.03 per diluted share, compared with GAAP net income of $1.3 million or $0.02 per diluted share in the first quarter of 2019. Adjusted EBITDA for the first quarter of 2020 was $7.9 million, compared with $8.1 million in the first quarter of 2019. Non-GAAP net income for the first quarter of 2020 was $6.7 million, or $0.09 per diluted share, compared with $7.0 million, or $0.09 per diluted share, in the first quarter of 2019.
The Company ended the year with $32.1 million in cash and cash equivalents.
Outlook and Conference Call
Due to the pending acquisition by ProSiebenSat.1's and General Atlantic’s joint company NuCom Group, the Company does not plan to host an earnings conference call or provide forward-looking guidance.
THE MEET GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands, except par value and share data)
 
 
(Unaudited)
 
 
 
March 31,
2020
 
December 31,
2019
Assets:
 
 
 
Current assets:
 
 
 
Cash and cash equivalents
$
32,110
 
 
$
27,241
 
Accounts receivable, net
23,966
 
 
25,234
 
Prepaid expenses and other current assets
5,820
 
 
6,062
 
Total current assets
61,896
 
 
58,537
 
Deferred tax assets
16,211
 
 
16,233
 
Property and equipment, net
3,047
 
 
3,625
 
Operating lease right-of-use assets
7,138
 
 
7,034
 
Intangible assets, net
26,945
 
 
29,305
 
Goodwill
155,693
 
 
156,687
 
Other assets
850
 
 
1,300
 
Total assets
$
271,780
 
 
$
272,721
 
Liabilities and stockholders' equity:
 
 
 
Current liabilities:
 
 
 
Accounts payable
$
7,518
 
 
$
5,346
 
Accrued liabilities
18,915
 
 
20,090
 
Current portion of long-term debt
3,500
 
 
3,500
 
Current portion of operating lease liabilities
2,527
 
 
2,081
 
Current portion of finance lease obligations
9
 
 
10
 
Deferred revenue
3,563
 
 
3,884
 
Total current liabilities
36,032
 
 
34,911
 
Long-term debt, net
29,523
 
 
30,375
 
Long-term operating lease liabilities
4,723
 
 
5,024
 
Long-term finance lease obligations
48
 
 
53
 
Long-term derivative liabilities
477
 
 
1,451
 
Deferred tax liabilities
2,888
 
 
2,773
 
Other liabilities
—
 
 
894
 
Total liabilities
73,691
 
 
75,481
 
Commitments and contingencies
 
 
 
Stockholders' equity:
 
 
 
Preferred stock, $0.001 par value; authorized - 5,000,000 shares; no shares issued and outstanding as of March 31, 2020 and December 31, 2019
—
 
 
—
 
Series A junior participating preferred stock, $0.001 par value; authorized - 200,000 shares; no shares issued and outstanding as of March 31, 2020 and December 31, 2019
—
 
 
—
 
Common stock, $0.001 par value; authorized - 100,000,000 shares; 71,185,492 and 70,756,013 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively
71
 
 
71
 
Additional paid-in capital
434,622
 
 
430,959
 
Accumulated deficit
(234,073
)
 
(231,441
)
Accumulated other comprehensive loss
(2,531
)
 
(2,349
)
Total stockholders’ equity
198,089
 
 
197,240
 
Total liabilities and stockholders’ equity
$
271,780
 
 
$
272,721
 
THE MEET GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
(in thousands, except share and per share data)
 
 
 
 
 
Three Months Ended March 31,
 
 
2019
 
2018
Revenue
$
55,066
 
 
$
49,513
 
Operating costs and expenses:
 
 
 
Sales and marketing
7,714
 
 
7,841
 
Product development and content
37,671
 
 
31,123
 
General and administrative
5,030
 
 
4,928
 
Depreciation and amortization
2,820
 
 
3,198
 
Acquisition, restructuring and other
3,370
 
 
479
 
Total operating costs and expenses
56,605
 
 
47,569
 
(Loss) income from operations
(1,539
)
 
1,944
 
Other income (expense):
 
 
 
Interest income
13
 
 
32
 
Interest expense
(396
)
 
(403
)
Loss on foreign currency transactions
(7
)
 
(65
)
Loss on disposal of assets
(108
)
 
—
 
Other items of income, net
2
 
 
4
 
Total other expense
(496
)
 
(432
)
(Loss) income before income tax expense
(2,035
)
 
1,512
 
Income tax expense
(373
)
 
(254
)
Net (loss) income
$
(2,408
)
 
$
1,258
 
 
 
 
 
Basic and diluted net (loss) income per share:
 
 
 
Basic net (loss) income per share
$
(0.03
)
 
$
0.02
 
Diluted net (loss) income per share
$
(0.03
)
 
$
0.02
 
 
 
 
 
Weighted-average shares outstanding:
 
 
 
Basic
71,001,906
 
 
74,848,080
 
Diluted
71,001,906
 
 
78,799,248
 
THE MEET GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
(in thousands)
 
 
 
 
 
Three Months Ended March 31,
 
 
2020
 
2019
Cash flows from operating activities:
 
 
 
Net (loss) income
$
(2,408
)
 
$
1,258
 
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
 
 
 
Depreciation and amortization
2,820
 
 
3,198
 
Amortization of right-of-use assets
635
 
 
695
 
Stock-based compensation expense
3,185
 
 
2,425
 
Deferred tax expense (benefit)
9
 
 
(147
)
Loss on disposal of assets
108
 
 
—
 
Loss on foreign currency transactions
7
 
 
65
 
Provision for expected credit losses
82
 
 
325
 
Non-cash interest expense
120
 
 
38
 
Changes in derivative financial instruments
171
 
 
—
 
Changes in contingent consideration obligations
23
 
 
16
 
Changes in operating assets and liabilities:
 
 
 
Accounts receivable
944
 
 
1,187
 
Prepaid expenses, other current assets and other assets
768
 
 
(774
)
Accounts payable and accrued liabilities
(638
)
 
(5,009
)
Deferred revenue
(275
)
 
85
 
Net cash provided by operating activities
5,551
 
 
3,362
 
Cash flows from investing activities:
 
 
 
Purchases of property and equipment
(87
)
 
(283
)
Acquisition of business, net of cash acquired
—
 
 
(11,808
)
Net cash used in investing activities
(87
)
 
(12,091
)
Cash flows from financing activities:
 
 
 
Proceeds from exercise of stock options
564
 
 
681
 
Repurchases of common stock
(65
)
 
—
 
Payments of finance leases
(5
)
 
(41
)
Proceeds from revolving loan
—
 
 
7,000
 
Payments for restricted stock awards withheld for taxes
(86
)
 
(89
)
Payments of term loan
(875
)
 
(7,317
)
Net cash (used in) provided by financing activities
(467
)
 
234
 
Change in cash and cash equivalents prior to effect of foreign currency exchange rate
4,997
 
 
(8,495
)
Effect of foreign currency exchange rate
(128
)
 
(60
)
Net increase (decrease) in cash and cash equivalents
4,869
 
 
(8,555
)
Cash and cash equivalents as of beginning of period
27,241
 
 
28,366
 
Cash and cash equivalents as of end of period
$
32,110
 
 
$
19,811
 
Supplemental disclosure of cash flow information:
 
 
 
Cash paid for interest
$
123
 
 
$
361
 
Cash paid for income taxes
$
973
 
 
$
297
 
THE MEET GROUP, INC. AND SUBSIDIARIES
DISAGGREGATION OF REVENUE
(UNAUDITED)
(in thousands)
 
 
 
 
 
Three Months Ended March 31,
 
 
2020
 
2019
 
 
$
 
%
 
$
 
%
User pay revenue:
 
 
 
 
 
 
 
Video
$
28,633
 
 
52.0
%
 
$
20,229
 
 
40.9
%
Subscription and other in-app products
14,395
 
 
26.1
%
 
15,596
 
 
31.5
%
Total user pay revenue
43,028
 
 
78.1
%
 
35,825
 
 
72.4
%
Advertising revenue
12,038
 
 
21.9
%
 
13,688
 
 
27.6
%
Total revenue
$
55,066
 
 
100.0
%
 
$
49,513
 
 
100.0
%
THE MEET GROUP, INC. AND SUBSIDIARIES
RECONCILIATION OF NET (LOSS) INCOME TO ADJUSTED EBITDA
(UNAUDITED)
(in thousands)
 
 
 
 
 
Three Months Ended March 31,
 
 
2020
 
2019
Net (loss) income
$
(2,408
)
 
$
1,258
 
Interest expense
396
 
 
403
 
Income tax expense
373
 
 
254
 
Depreciation and amortization expense
2,820
 
 
3,198
 
Stock-based compensation expense
3,185
 
 
2,425
 
Acquisition, restructuring and other
3,370
 
 
479
 
Loss on disposal of assets
108
 
 
—
 
Loss on foreign currency transactions
7
 
 
65
 
Adjusted EBITDA
$
7,851
 
 
$
8,082
 
THE MEET GROUP, INC. AND SUBSIDIARIES
RECONCILIATION OF NET (LOSS) INCOME TO NON-GAAP NET INCOME
(UNAUDITED)
(in thousands, except share and per share data)
 
 
 
 
 
Three Months Ended March 31,
 
 
2020
 
2019
Net (loss) income
$
(2,408
)
 
$
1,258
 
Stock-based compensation expense
3,185
 
 
2,425
 
Amortization of intangibles
2,177
 
 
2,562
 
Income tax expense
373
 
 
254
 
Acquisition, restructuring and other
3,370
 
 
479
 
Non-GAAP Net Income
$
6,697
 
 
$
6,978
 
 
 
 
 
GAAP basic net (loss) income per share
$
(0.03
)
 
$
0.02
 
GAAP diluted net (loss) income per share
$
(0.03
)
 
$
0.02
 
Basic Non-GAAP Net Income per share
$
0.09
 
 
$
0.09
 
Diluted Non-GAAP Net Income per share
$
0.09
 
 
$
0.09

The Meet Group to Release Blind Date and Second Date to MeetMe and Skout Live

Source: Business Wire
Hopes to Encourage Socially Distant Dating During the Pandemic
The Meet Group, Inc. (NASDAQ: MEET), a leading provider of interactive livestreaming solutions, plans to release two new features to its NextDate dating game, Blind Date and Second Date, on its MeetMe and Skout livestreaming dating apps in the coming weeks. The announcement comes in the midst of the COVID-19 pandemic which is forcing millions of people to practice social distancing and self-isolation. Through the release of Blind Date and Second Date, The Meet Group hopes to encourage its users to make connections, find love, and regain a sense of community, all while remaining socially distant. NextDate, a gamified version of speed dating, was introduced to The Meet Group’s portfolio of mobile apps in October 2019.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200429005150/en/

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The Meet Group to Release Blind Date and Second Date to MeetMe and Skout Live

Blind Date allows NextDate users to meet and date streamers through a timed video chat. The streaming host can hear but not see the contestant, therefore making the date based on personality rather than looks. As the mini-date continues, the contestant’s video becomes increasingly less blurred and is revealed only when time runs out or if the host selects the “date” option.
Second Date gives a contestant the chance to have a number of subsequent dates with the streamer during the game, adding a new element to the NextDate experience. With Second Date, when the streamer chooses to “date” a contestant, the contestant is given the opportunity to play an unlimited number of times in the same game session unless the streamer decides to “next” them. Second Date allows contestants and streamers to be able to converse, connect, and potentially find love.
Because of the outbreak, The Meet Group is seeing users spend more time in video chats and livestreaming than ever before. Today over 100,000 NextDate games are played daily, and more than 1 million people either watch or livestream every day.
“Since the start of the pandemic, video chats have increased by 48%, and time spent in video increased by 47%,” said Geoff Cook, Chief Executive Officer of The Meet Group. “In response to the enacting and extension of social distancing measures across the country, we are accelerating the launch of video dating products across our portfolio of mobile dating apps in order to provide our users with new ways to connect during these uncertain times.”
Blind Date and Second Date are expected to be released to both MeetMe and Skout users in May.
About The Meet Group
The Meet Group (NASDAQ: MEET) is a leading provider of interactive dating solutions designed to meet the universal need for human connection. Our ecosystem of livestreaming apps enables users around the world to interact through one-to-many livestreaming broadcasts and text-based conversations. Our top apps, MeetMe®, LOVOO®, Skout®, Tagged® and Growlr®, deliver live interactions and meaningful connections to millions of users daily. Headquartered in New Hope, PA, we have offices in Philadelphia, San Francisco, Dresden, and Berlin. The Meet Group is committed to safety. You can find a description of current safety practices here: https://www.themeetgroup.com/safety-practices/. For more information, visit themeetgroup.com, and follow us on Facebook, Twitter or LinkedIn.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding whether we will release Blind Date and Second Date as anticipated; whether Blind Date and Second Date will cause users to make connections, find love, and regain a sense of community, all while remaining socially distant; whether Blind Date and Second Date will operate as expected; whether users will continue to spend more time in video chats and livestreaming than before the pandemic; whether video chats and time spend in video will continue to increase and if so at what rate; and whether we will accelerate the launch of video dating products across our portfolio of dating apps as anticipated. All statements other than statements of historical facts contained herein are forward-looking statements. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “think,” “should,” “plan,” “could,” “target,” “potential,” “project,” “outlook,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the risk that our applications will not function easily or otherwise as anticipated, the risk that we will not launch additional features and upgrades as anticipated, the risk that unanticipated events affect the functionality of our applications with popular mobile operating systems, any changes in such operating systems that degrade our mobile applications’ functionality and other unexpected issues which could adversely affect usage on mobile devices. Further information on our risk factors is contained in our filings with the Securities and Exchange Commission (“SEC”), including the Form 10-K for the year ended December 31, 2019 filed with the SEC on March 12, 2020. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20200429005150/en/
Investor Contact:
Leslie Arena / larena@themeetgroup.com
(267) 714-6418
Media Contact:
Brandyn Bissinger / bbissinger@themeetgroup.com
(267) 446-7010

The Meet Group Announces Date of Earnings Release for First Quarter 2020 Financial Results

Source: Business Wire
The Meet Group, Inc. (NASDAQ: MEET), a leading provider of interactive dating solutions, today announced that its first quarter 2020 financial results will be issued in a press release on Wednesday, May 6, 2020, before the open of the market.
Due to the pending acquisition of the Company by ProsiebenSat.1’s and General Atlantic’s joint company NuCom Group announced on March 5, 2020, The Meet Group does not plan to host a conference call for its first quarter 2020 business results.
About The Meet Group
The Meet Group (NASDAQ: MEET) is a leading provider of interactive dating solutions designed to meet the universal need for human connection. Our ecosystem of dating apps enables users around the world to interact through one-to-many livestreaming broadcasts and text-based conversations. Our top apps, MeetMe®, LOVOO®, Skout®, Tagged® and Growlr®, deliver live interactions and meaningful connections to millions of users daily. Headquartered in New Hope, PA, we have offices in Philadelphia, San Francisco, Dresden, and Berlin. The Meet Group is committed to safety. You can find a description of current safety practices here: https://www.themeetgroup.com/safety-practices/. For more information, visit themeetgroup.com, and follow us on Facebook, Twitter or LinkedIn.
?
View source version on businesswire.com: https://www.businesswire.com/news/home/20200422005099/en/
Investor Contact:
Leslie Arena
larena@themeetgroup.com
267 714 6418
Media Contact:
Brandyn Bissinger
bbissinger@themeetgroup.com
267 446 7010

Largest African-American Dating App, Tagged, To Rollout Live Video Dating to Respond to COVID-19

Source: Business Wire
Blind Date and 1:1 Video Chat Help Users Maintain Safe Dating Distance
The Meet Group, Inc. (NASDAQ: MEET), a leading provider of interactive livestreaming solutions, has created two new features designed to help users connect while maintaining proper dating distance on its popular mobile application, Tagged -- the country’s largest dating app primarily focused on African Americans. The two features, Blind Date and 1:1 video chat, are designed to provide socially distant users with options to engage and build new relationships.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200416005093/en/

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Largest African-American Dating App, Tagged, To Rollout Live Video Dating to Respond to COVID-19 (Graphic: Business Wire)

Blind Date allows users to meet and date streamers through a timed video chat based on personality rather than looks. The streaming host can hear but not see the contestant. As the mini-date progresses, the contestant’s video becomes less blurred and more clear. The contestant is revealed when time runs out or after the host decides it’s a match and taps the “date” option. The feature is a new mode of the Company’s popular NextDate dating game.
The Company also plans to enable 1:1 video chat on Tagged as an alternative to meeting in person. “Meeting in person is no longer safe for large swaths of the world,” said Geoff Cook, CEO of The Meet Group. “We have reminded our users that in-person dating is not essential and that social distancing is important. These video dating features, we hope, will help people find support, connection, and love in these uncertain times.
“There are more than 95,000 NextDate dating games played each day on our apps, and more than one million people either watch or livestream on our video platform every day,” added Cook. “Since the start of the pandemic, time spent in video has increased by 39%. As the social distancing timeline is extended, we are accelerating the launch of video dating products across our portfolio of dating apps.”
The Company expects to roll-out Blind Date and 1:1 video chat to Tagged users over the coming weeks.
About The Meet Group
The Meet Group (NASDAQ: MEET) is a leading provider of interactive livestreaming solutions designed to meet the universal need for human connection. Our ecosystem of social dating and livestreaming apps enables users around the world to interact through one-to-many livestreaming broadcasts and text-based conversations. Our top apps, MeetMe®, LOVOO®, Skout®, Tagged® and Growlr®, deliver live interactions and meaningful connections to millions of users daily. Headquartered in New Hope, PA, we have offices in Philadelphia, San Francisco, Dresden, and Berlin. The Meet Group is committed to safety. You can find a description of current safety practices here: https://www.themeetgroup.com/safety-practices/. For more information, visit themeetgroup.com, and follow us on Facebook, Twitter or LinkedIn.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding whether we will roll-out Blind Date and video 1:1 chat on Tagged in the coming weeks as expected; whether Blind Date and 1:1 video chat will provide socially distant users with options to engage and build new relationships, and help people find support, connection, and love; whether video chats and time spend in video will continue to increase and if so at what rate; and whether we will accelerate the launch of video dating products across our portfolio of dating apps. All statements other than statements of historical facts contained herein are forward-looking statements. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “think,” “should,” “plan,” “could,” “target,” “potential,” “project,” “outlook,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the risk that our applications will not function easily or otherwise as anticipated, the risk that we will not launch additional features and upgrades as anticipated, the risk that unanticipated events affect the functionality of our applications with popular mobile operating systems, any changes in such operating systems that degrade our mobile applications’ functionality and other unexpected issues which could adversely affect usage on mobile devices. Further information on our risk factors is contained in our filings with the Securities and Exchange Commission (“SEC”), including the Form 10-K for the year ended December 31, 2019 filed with the SEC on March 12, 2020. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20200416005093/en/
Investor Contact:
Leslie Arena / larena@themeetgroup.com
(267) 714-6418
Media Contact:
Brandyn Bissinger / bbissinger@themeetgroup.com
(267) 446-7010

Moore Kuehn, PLLC Encourages Investors of MEET, LM, EQM, and BFST to Contact Law Firm

Source: PR Newswire (US)

NEW YORK, April 3, 2020 /PRNewswire/ -- Moore Kuehn, PLLC, a securities litigation law firm located on Wall Street in downtown New York City, is investigating potential claims concerning whether the following proposed mergers are fair to shareholders.  Moore Kuehn may ultimately seek increased consideration, additional disclosures, or other relief and benefits on behalf of the shareholders of these companies:

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The Meet Group, Inc. (Nasdaq: MEET)

A proxy was recently filed with the SEC regarding NuCom Group's acquisition of The Meet Group for $6.30 per share.  Moore Kuehn's investigation concerns whether Meet Group's board of directors oversaw an unfair process and ultimately agreed to an inadequate price.

Legg Mason Inc. (NYSE: LM)

On March 27, 2020, a proxy was filed with the SEC regarding Franklin Resources, Inc. acquisition of Legg Mason for $50.00 per share.  Moore Kuehn is investigating whether the sale is fair to Legg Mason shareholders.

EQM Midstream Partners, LP (NYSE: EQM)

A registration statement was recently filed with the SEC regarding Equitrans Midstream Corp's acquisition of EQM Midstream Partners.  Under the terms of the agreement, each outstanding EQM common unit will be converted into 2.44 shares of Equitrans common stock.

Business First Bancshares Inc. (NASDAQ: BFST)

A proxy was recently filed with the SEC regarding Business First Bancshares's acquisition of Pedestal Bancshares. Under the proposed transaction shareholders of Pedestal will receive 1.745 shares of Business First for every share of Pedestal owned.
Moore Kuehn is investigating whether the Boards of the above companies 1) acted to maximize shareholder value, 2) failed to disclose material information, and 3) conducted a fair process. 
Moore Kuehn encourages shareholders to contact Fletcher Moore, Esq. by email at fmoore@moorekuehn.com or (212) 709-8245.  The consultation and case are free with no obligation to you.    Shareholders should contact the firm immediately as there may be limited time to enforce your rights.  
Moore Kuehn is a 5-star New York City-based law firm with attorneys representing investors and consumers in class action litigation involving securities law violations, financial fraud, breaches of fiduciary duties, and other claims.  For additional information about Moore Kuehn, please go to http://www.moorekuehn.com/practice/new-york-securities-litigation/.
Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts:
Moore Kuehn, PLLC
Fletcher Moore, Esq.
30 Wall Street, 8th Floor
New York, New York 10005
fmoore@moorekuehn.com 
(212) 709-8245

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SOURCE Moore Kuehn, PLLC

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Copyright 2020 PR Newswire

Plenty of Fish Launches Innovative Free Livestreaming For Dating

Source: PR Newswire (US)

VANCOUVER, British Columbia, March 19, 2020 /PRNewswire/ -- Dating app Plenty of Fish today began rolling out a free livestreaming feature, dubbed LIVE!, for members to encourage singles to "date from a distance" as the nation practices social isolation. In partnership with The Meet Group, Inc., a leading provider of interactive livestreaming solutions, LIVE! enables Plenty of Fish app-users to livestream with friends and potential matches.

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U.S. Plenty of Fish app-users in the areas most impacted by Coronavirus, including New York, Washington and California, can begin livestreaming this week, as early as today. Next week, it is targeting to roll out to more than 80% of the U.S. and will be made available to all global app-users by the end of April. This feature comes at a time when singles around the world are asked to rapidly adapt to the new realities of social distancing and isolation, and are faced with exploring new ways to connect.
"Our mission is to find new ways for singles to connect while easing the pressures of dating, and right now, it's more critical than ever," said Plenty of Fish CEO Malgosia Green. "As a dating app, our business is in a unique position to innovate quickly to combat the anxiety singles may be feeling right now. I'm excited to offer this free feature to our members in the hopes it allows people to have fun and build meaningful relationships virtually, while face-to-face interaction is temporarily limited."
"We have found again and again that livestreaming provides powerful feelings of connection and entertainment," said Geoff Cook, Chief Executive Officer of The Meet Group.  "In these difficult times, we are pleased to partner with Plenty of Fish to help people feel more connected."
By tapping the "LIVE!" icon within the Plenty of Fish app, members can livestream with other singles, providing a unique way to stay connected and create a sense of community from the convenience of home. Additionally, when livestreaming, members can choose to play the dating game NextDate™. Similar to speed dating, NextDate allows streamers 90 seconds to live video chat with potential matches, and the ability to move the conversation to one-on-one video, further enabling singles to continue dating while social distancing.
Livestreaming is on the rise, and according to a recent study,* more than two thirds (67%) of consumers globally have streamed live video, and 70% of streamers do so at least once every day.
About Livestreaming on Plenty of Fish
Members in the United States can access livestreaming through the LIVE! Icon in the Plenty of Fish app:
For more tips on how to livestream on Plenty of Fish, watch this video:
* 2018 IAB Study, Live Video Streaming: A Global Perspective
About Plenty of Fish
Plenty of Fish, a Match Group (NSDQ: MTCH) company, is one of the largest global online dating companies, and is available in 11 languages and more than 20 countries. Unlike many dating offerings today, Plenty of Fish offers a less prescriptive, low-pressure user experience that allows singles to discover what they're looking for.
About The Meet Group
The Meet Group (NASDAQ: MEET) is a leading provider of interactive livestreaming solutions designed to meet the universal need for human connection. Our ecosystem of livestreaming apps enables users around the world to interact through one-to-many livestreaming broadcasts and text-based conversations. Our top apps, MeetMe©, LOVOO©, Skout©, Tagged© and Growlr©, deliver live interactions and meaningful connections to millions of users daily. Headquartered in New Hope, PA, we have offices in Philadelphia, San Francisco, Dresden and Berlin. For more information, visit themeetgroup.com, and follow us on Facebook, Twitter or LinkedIn.
Media Contacts:
Brandyn Bissinger
bbissinger@themeetgroup.com
267 446 7010
pof@craftedpr.com
 

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SOURCE Plenty of Fish

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Copyright 2020 PR Newswire

On March 5, 2020, Meet Group announced that it had signed a definitive merger agreement with ProSiebenSat.1 and General Atlantic. Under the terms of the deal, Meet Group stockholders will receive $6.30 in cash.

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Futures Fall Sharply


STOCK MARKET TODAY

Dow Jones Futures 'Limit Down' Even As Fed Cuts Rates To 0%, Plans $700 Billion In QE; Covid-19 Cases Soar Amid Coronavirus Bear Market

ED CARSON

 

06:57 PM ET 03/15/2020

Dow Jones futures fell sharply Sunday, along with S&P 500 futures and Nasdaq futures, hitting limit down once again even as the Fed cut rates by a full percentage point to 0%-0.25% and restarted quantitative easing (QE) amid the coronavirus bear market. Dow Jones stock Apple (AAPL), Nike (NKE), Microsoft (MSFT) are making news, while ZTO Express (ZTO) and Coupa Software(COUP) have earnings due with Tesla stock still in focus.

 

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It's the second emergency Fed rate cut in less than two weeks. On March 3, the Federal Reserve cut interest rates by 50 basis points. This time policymakers went even bigger, cutting Fed rates to effectively zero. And the central bank is restarting QE, with plans to buy at least $500 billion in Treasuries and $200 billion in mortgage securities in the coming months. The Fed also announced a dollar-swap program with other central banks.
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https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-fed-cuts-rates-starts-qe-covid-19-coronavirus-bear-market-apple-microsoft-tesla/

SHAREHOLDER ALERT: WeissLaw LLP Investigates The Meet Group, Inc.

Source: PR Newswire (US)

NEW YORK, March 6, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of The Meet Group, Inc. ("MEET" or the "Company") (NASDAQ: MEET) in connection with the proposed acquisition of the Company by NuCom Group ("NuCom").  Under the terms of the acquisition agreement, MEET shareholders will receive $6.30 in cash for each share of MEET they own. 

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If you own MEET shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
http://www.weisslawllp.com/the-meet-group-inc/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY  10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether MEET's Board of Directors acted to maximize shareholder value prior to entering into the acquisition agreement.  Notably, at least one analyst set a target price of $7.25, or approximately $1.00 above the offer price.  Moreover, the acquisition of MEET will diversify NuCom's revenue stream and increase its global footprint. 
Given these facts, WeissLaw is concerned whether the proposed acquisition agreement undervalues the Company, whether the Board ran a fair process, and whether all material information related to the proposed acquisition is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com

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SOURCE WeissLaw LLP

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Copyright 2020 PR Newswire

The Meet Group Executives to Speak at IDEA SUMMIT NY and Global Dating Insights’ Inaugural New York Conference

Source: Business Wire
The Meet Group, Inc. (NASDAQ: MEET), a leading provider of interactive livestreaming solutions, will be taking part in two upcoming dating industry events.
On Friday, March 6, 2020, the IDEA SUMMIT and WOW (World Officers Weekend) will bring together some of the most influential CEOs in the dating industry, including The Meet Group’s Chief Executive Officer, Geoff Cook, who will be discussing the company’s plan to enhance authenticity through its upcoming AI-powered verification badge. The event, which is hosted by the Internet Dating Excellence Association, is sponsored by The Meet Group and will take place at Harvard Club New York.
The Meet Group’s Senior Vice President of Corporate Development, Blake Kuhre, will be speaking about live video and vPaaS, or Video Platform as a Service, during his Breaking New Ground in Trust and Safety presentation at Global Dating Insights’ inaugural New York Conference. The conference, which occurs on Tuesday, March 10, 2020, is sponsored by Google, Spectrum Labs, and more.
For more information on either event, visit the IDEA SUMMIT’s or Global Dating Insights’ website.
About The Meet Group
The Meet Group (NASDAQ: MEET) is a leading provider of interactive livestreaming solutions designed to meet the universal need for human connection. Our ecosystem of livestreaming apps enables users around the world to interact through one-to-many livestreaming broadcasts and text-based conversations. Our top apps, MeetMe®, LOVOO®, Skout®, Tagged® and Growlr®, deliver live interactions and meaningful connections to millions of users daily. Headquartered in New Hope, PA, we have offices in Philadelphia, San Francisco, Dresden, and Berlin. The Meet Group is committed to safety. You can find a description of current safety practices here: https://www.themeetgroup.com/safety-practices/. For more information, visit themeetgroup.com, and follow us on Facebook, Twitter or LinkedIn.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20200306005024/en/
Investor Contact:
Leslie Arena / larena@themeetgroup.com
(267) 714-6418
Media Contact:
Brandyn Bissinger / bbissinger@themeetgroup.com
(267) 446-7010

Moore Kuehn Encourages Investors of TIVO, MEET, QGEN, and GCAP to Contact Law Firm

Source: PR Newswire (US)

NEW YORK, March 5, 2020 /PRNewswire/ -- Moore Kuehn, PLLC, a securities law firm located on Wall Street in downtown New York City, is investigating potential claims concerning whether the following proposed mergers are fair to shareholders.  Moore Kuehn may ultimately seek increased consideration, additional disclosures, or other relief and benefits on behalf of the shareholders of these companies:

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TiVo Corporation (NASDAQ: TIVO)

TiVo has signed an agreement to merge with Xperi. Per the agreement, TiVo stockholders will receive 0.455 shares of the new parent company for each share of TiVo common stock owned.  The investigation concerns whether TiVo's board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price.

The Meet Group, Inc. (Nasdaq: MEET)

Meet had agreed to merge with NuCom Group.   Under the agreement, Meet will be acquired in an all cash transaction for $6.30 per share representing an enterprise value of approximately $500 million. 

Qiagen (NYSE:QGEN)

Qiagen has agreed to be acquired by Thermo Fisher Scientific.  Under the agreement, Thermo Fisher will acquire all of QIAGEN shares for EUR39 per share. This deal may be unfair to Qiagen shareholders, especially in light of current Qiagen efforts to develop tests for SARS-CoV-2, the virus that causes Covid-19, the virus that causes Covid-19.

GAIN Capital Holdings (NASDAQ: GCAP)

GAIN Capital has agreed to be acquired by INTL FCStone Inc. Under the agreement GAINS's stockholders will receive $6.00 per share, representing approximately $236 million in equity value.
Moore Kuehn is investigating whether the Boards of the above companies 1) acted to maximize shareholder value, 2) failed to disclose material information, and 3) conducted a fair process.
Moore Kuehn encourages shareholders to contact Fletcher Moore, Esq. by email at fmoore@moorekuehn.com or telephone at (212) 709-8245.  The consultation and case are free with no obligation to you.    Shareholders should contact the firm immediately as there may be limited time to enforce your rights.  
Moore Kuehn is a New York-based law firm with attorneys representing investors and consumers in class action litigation involving securities law violations, financial fraud, breaches of fiduciary duties, and other claims.  For additional information about Moore Kuehn, please go to http://www.moorekuehn.com/practice/new-york-securities-litigation/.
Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts:
Moore Kuehn, PLLC
Fletcher Moore, Esq.
30 Wall Street, 8th Floor
New York, New York 10005
fmoore@moorekuehn.com 
(212) 709-8245

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SOURCE Moore Kuehn, PLLC

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Copyright 2020 PR Newswire

(MEET) Alert: Johnson Fistel Investigates Proposed Sale of The Meet Group, Inc.; Is $6.30 a Fair Price?

Source: PR Newswire (US)

SAN DIEGO, March 5, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of The Meet Group, Inc. (NASDAQ: MEET) ("Meet Group" or the "Company") breached their fiduciary duties in connection with the proposed sale of the Company to ProSiebenSat.1 and General Atlantic.
On March 5, 2020, Meet Group announced that it had signed a definitive merger agreement with ProSiebenSat.1 and General Atlantic. Under the terms of the deal, Meet Group stockholders will receive $6.30 in cash.
The investigation concerns whether the Meet Group board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Meet Group shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts' projections for future earnings growth, and one Wall Street analyst has a $7.25 price target on the stock. The 52-week high for Meet Group was $7.00. 
If you are a shareholder of Meet Group and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
Additionally, you can [Click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
[Click here to join this action]
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SOURCE Johnson Fistel, LLP

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Copyright 2020 PR Newswire

Shareholder Alert: Ademi & O'Reilly, LLP Investigates whether The Meet Group, Inc. has obtained a Fair Price in its sale to N...

Source: PR Newswire (US)

MILWAUKEE, March 5, 2020 /PRNewswire/ -- Ademi & O'Reilly, LLP is investigating Meet (Nasdaq: MEET) for possible breaches of fiduciary duty and other violations of the law in connection with the sale to NuCom.
Click here to learn how to join the action: http://ademilaw.com/case/meet-group-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi & O'Reilly, LLP alleges Meet's financial outlook is improving and yet shareholders will receive only $6.30 per fully diluted share representing an enterprise value of approximately $500 million. The merger agreement unreasonably limits competing bids for Meet by prohibiting solicitation of further bids, and imposing a termination penalty if Meet accepts a superior bid. Meet insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of Meet's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Meet.
If you own common stock in Meet and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or http://ademilaw.com/case/meet-group-inc.                        
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi & O'Reilly, LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
 
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SOURCE Ademi & O'Reilly, LLP

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Copyright 2020 PR Newswire

The Meet Group Announces Definitive Agreement to be Acquired by ProSiebenSat.1 and General Atlantic

Source: Business Wire

The Meet Group Shareholders to Receive $6.30 per Share in Cash

Transaction Will Provide Certain and Immediate Value to Shareholders

Transaction Expected to Close in the 2nd half 2020

The Meet Group, Inc. (NASDAQ: MEET), a leading portfolio of mobile dating apps, today announced that it has entered into a definitive agreement to be acquired by ProSiebenSat.1`s and General Atlantic’s joint company NuCom Group in an all cash transaction for $6.30 per fully diluted share representing an enterprise value of approximately $500 million. Together with NuCom Group’s portfolio company Parship Group, a matchmaking platform with its brands Parship, Elite Partner and eharmony, The Meet Group will become an integral part of a global leader in the online dating and social entertainment sector.
After careful and thorough review, and following consultation with The Meet Group’s financial and legal advisors, the transaction was unanimously approved by The Meet Group’s board of directors. The purchase price represents a 30% and 43% premium to the unaffected 30 and 60 trading day volume weighted average price, respectively, to The Meet Group’s common stock through December 13, 2019, the last trading day prior to published market speculation regarding a potential transaction involving the company.
“The Meet Group Board of Directors undertook a robust process, which culminated in a transaction that we believe will deliver certain and immediate value to our shareholders,” said Spencer Rhodes, Chairman of The Meet Group Board of Directors. “We are excited about this transaction and the significant benefits resulting from a combination with Parship Group,” said Geoff Cook, Chief Executive Officer of The Meet Group. “This transaction will allow us to tap new strategic growth opportunities by leveraging our video platform and ProSiebenSat.1’s experience with content and entertainment. What’s more, with this transaction and the participation of both General Atlantic and ProSiebenSat.1, we will achieve a new level of financial scale and backing, which has the potential to further accelerate our growth.”
The Meet Group’s freemium dating brands, featuring its industry-leading video platform technology, will be combined with NuCom’s portfolio company Parship Group, which operates premium subscription dating brands including eharmony, Parship and Elite Partner. The transaction will diversify the revenue streams of both companies and increase their combined international footprint by broadening the companies’ user base.
Max Conze, CEO, ProSiebenSat.1 Media SE: “The acquisition of The Meet Group is one of ProSiebenSat.1’s largest transactions. It will significantly advance our ambition to create one of the leading global players in online dating and interactive live video. We believe the combination of these two successful and complementary businesses will also create synergies within the ProSiebenSat.1 universe and accelerate the growth of our market share in the German live video apps sector.”
Tim Schiffers, CEO Parship Group: “Following a successful acquisition of eharmony, we have proven that we can manage new businesses and accelerate their growth by combining the best of both worlds. We continue to consolidate our position in the online dating market and extend our business model by adding social entertainment. I am looking forward to working with our new colleagues to solidify our international footprint.”
The transaction, which is expected to close in the 2nd half of 2020, is subject to approval by The Meet Group’s stockholders, along with the satisfaction of customary closing conditions and regulatory approvals, including the expiration or early termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, antitrust approvals in Germany and Austria as well as approval from the Committee on Foreign Investment in the United States. The Meet Group expects to hold a special meeting of its stockholders to consider and vote on the transaction as soon as feasible after the mailing of the proxy statement to shareholders.
The Meet Group plans to release its fourth quarter fiscal year 2019 results before market open on March 11, 2020. In light of the pending transaction announced today, the company will not hold a corresponding conference call.
Representation
BofA Securities is acting as financial advisor to The Meet Group, and Morgan, Lewis & Bockius LLP is acting as legal counsel.
About The Meet Group
The Meet Group (NASDAQ: MEET) is a leading provider of interactive livestreaming solutions designed to meet the universal need for human connection. Our ecosystem of livestreaming apps enables users around the world to interact through one-to-many livestreaming broadcasts and text-based conversations. Our top apps, MeetMe®, LOVOO®, Skout®, Tagged® and Growlr®, deliver live interactions and meaningful connections to millions of users daily. Headquartered in New Hope, PA, we have offices in Philadelphia, San Francisco, Dresden, and Berlin. The Meet Group is committed to safety. You can find a description of current safety practices here: https://www.themeetgroup.com/safety-practices/. For more information, visit themeetgroup.com, and follow us on Facebook, Twitter or LinkedIn.
About ProSiebenSat.1 Media SE
ProSiebenSat.1 combines leading entertainment brands with a successful production business and a strongly growing commerce portfolio and is thus one of the most diversified media companies in Europe. We want to offer great entertainment – whenever, wherever and on any device. We can address over 45 million TV households in Germany, Austria and Switzerland with our 15 free and pay TV channels. At the same time, we reach around 36 million unique users every month with online offerings marketed by ProSiebenSat.1. Successful formats like “The Masked Singer”, “Germany’s Next Topmodel”, and “Beat the Channel” as well as top-notch stars like Heidi Klum, or Dwayne Johnson belong to our family. Shows like “Bosch”, “Married at First Sight”, or “Queen of Drags” are created within our production and distribution business Red Arrow Studios. Our global digital studio Studio71 achieves over 9.9 billion monthly video views and operates more than 1,400 web channels. Our NuCom Group is a rapidly growing e-commerce player with leading portfolio companies that offer online price comparison, matchmaking, experiences as well as beauty & lifestyle. ProSiebenSat.1 are more than 7,000 passionate creators that love to entertain and delight our viewers and consumers each day.
About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build exceptional businesses worldwide. General Atlantic has more than 150 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore. For more information on General Atlantic, please visit the website: www.generalatlantic.com.
About NuCom Group
NuCom Group is the growth partner for consumer internet companies. We create global category leaders and accelerate the growth of our portfolio companies by adding marketing power, operational expertise and clear buy-and-build strategies. Thereby we combine the strengths of our shareholders in a “best of both worlds” approach, featuring the reach, know-how and resources from the ProSiebenSat.1 Group and the expertise and firepower of General Atlantic, a leading global growth equity investor. We focus on B2C asset light business models with a clear USP and differentiation. Currently our portfolio is divided in four verticals: consumer advice, matchmaking, experience and gift vouchers and beauty and lifestyle.
https://www.nucom.group/
About Parship Group
The Parship Group is the leading provider of online matchmaking services. The well-known international brands Parship, ElitePartner and eharmony belong to the group. All three services use scientific methods to successfully support singles in finding meaningful relationships that enrich their lives. Both Parship and eharmony are pioneers in using algorithms to create highly compatible relationships. California-based eharmony was founded in 2000 and operates in the United States, Canada, the United Kingdom and Australia. Parship invented scientific matchmaking in Europe in 2001 and today offers its service in the German-speaking world and the Benelux countries. Since 2004, ElitePartner is the premium partner agency for sophisticated singles, operating in the DACH-region. Currently, the Parship Group employs over 300 colleagues in Hamburg / Germany (headquarters), Los Angeles, London and Amsterdam.
https://www.parshipgroup.com/
Caution Regarding Forward Looking Statements:
This document contains forward-looking statements, including statements regarding the proposed acquisition of The Meet Group (the “Company”) by eharmony Holding, Inc. (the “Parent”). From time to time, oral or written forward-looking statements may also be included in other information released to the public. These forward-looking statements are intended to provide management’s current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. Forward-looking statements often contain words such as “may,” “can,” “could,” “would,” “should,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “believes,” “seeks,” “will,” “is likely to,” “scheduled,” “positioned to,” “continue,” “forecast,” “aim,” “goal,” “target,” “predicting,” “projection,” “potential” or similar expressions, although not all forward-looking statements contain these words. Forward-looking statements may include references to goals, plans, strategies, objectives, projected costs or savings, anticipated future performance, results, events or transactions of the Company and the expected timing of the proposed transaction with Parent and other statements that are not strictly historical in nature. These forward-looking statements are based on management’s current expectations, forecasts and assumptions and could ultimately prove inaccurate. This means the forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including, but not limited to: uncertainties as to the timing of the merger; uncertainties as to how many of the Company’s stockholders will vote in favor of the merger; the possibility that competing offers will be made; the ability to receive the required consents and regulatory approvals for the proposed transaction and to satisfy the other conditions to the closing of the transaction on a timely basis or at all, including the required regulatory clearances under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR), the Bundeswettbewerbsbeh?rde (Austria’s Federal Competition Authority) and Bundeskartellamt (Germany’s Federal Cartel Office) and from the Committee on Foreign Investment in the United States (CFIUS); the failure of Parent to obtain or provide on a timely basis or at all the necessary financing as set forth in the Equity Commitment Letters delivered pursuant to the Merger Agreement; the occurrence of events that may give rise to a right of one or both of the Company and Parent to terminate the merger agreement; the risk that, prior to the completion of the transaction, the Company’s business and its relationships with employees, collaborators, vendors and other business partners could experience significant disruption due to transaction-related uncertainty; the risk that stockholder litigation in connection with the Merger may result in significant costs of defense, indemnification and liability; negative effects of the announcement of the transaction on the market price of Company common stock and/or on the Company’s business, financial condition, results of operations and financial performance; risks associated with transaction-related litigation; and the ability of the Company to retain and hire key personnel; and the risks and uncertainties pertaining to the Company’s business, including those detailed under “Risk Factors” and elsewhere in the Company’s public periodic filings with the SEC. There can be no assurance that the proposed transaction or any other transaction described above will in fact be consummated in the manner described or at all. Stockholders, potential investors and other readers are urged to consider these risks and uncertainties in evaluating forward-looking statements and are cautioned not to place undue reliance on the forward-looking statements. It is not possible to anticipate or foresee all risks and uncertainties, and investors should not consider any list of risks and uncertainties to be exhaustive or complete. For additional information on identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, please see the Company’s statements and reports on Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC and other written statements made by the Company from time to time. The forward-looking information herein is given as of this date only and is qualified in its entirety by this cautionary statement, and the Company undertakes no obligation to revise or update it.
Additional Information and Where to Find It
In connection with the merger and with the solicitation of proxies for the special meeting of stockholders (the “Special Meeting”), the Company intends to file with the Securities and Exchange Commission (“SEC”) a proxy statement of the Company (the “Proxy Statement”), and other relevant materials with the SEC. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. A definitive Proxy Statement will be sent to the Company’s stockholders. Investors and security holders will be able to obtain the Proxy Statement free of charge from the SEC’s website or from the Company. The documents filed by the Company with the SEC may be obtained free of charge on the Company’s website at the Investor Relations section of http://ir.themeetgroup.com/CorporateProfile/ or at the SEC’s website at www.sec.gov. These documents may also be obtained free of charge from the Company by requesting them from Investor Relations by mail at 100 Union Square Drive, New Hope, PA 18938, or by telephone at 215.862.1162. This document shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.
PARTICIPANTS IN THE SOLICITATION
The Company and its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about the Company’s directors and executive officers is available in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 and in its proxy statement dated April 29, 2019, for its 2019 Annual Meeting of Stockholders. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement and other relevant materials to be filed with the SEC regarding the transaction when they become available. Investors should read the Proxy Statement carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the Company as indicated above.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20200304005887/en/
The Meet Group
Investors:
Leslie Arena
larena@themeetgroup.com
267 714 6418

Media:
Brandyn Bissinger
bbissinger@themeetgroup.com
267 446 7010

Media ProSiebensat.1
Stefanie Rupp-Menedetter
Stefanie.Rupp@ProSiebenSat1.com
Phone: +49 [89] 95 07-2598

Media NuCom Group:
Dorothea Gugel
dorothea.gugel@nucom.group
Phone: +49 [89] 95 07-8741

General Atlantic
Mary Armstrong & Emily Japlon
media@generalatlantic.com

* * $MEET Video Chart 03-04-2020 * *

Link to Video - click here to watch the technical chart video

BOOM

Solid solid

Looking strong! Monster squeeze occurring....combined with potential buyout... and earnings on the horizon.

This will be an interesting couple weeks ahead!

https://findbiometrics.com/biometrics-news-meet-group-verify-online-daters-facetec-facial-recognition-021304/

$$$ Meet $$$ looking attractive here

Amended Statement of Ownership (sc 13g/a)

Source: Edgar (US Regulatory)
 
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
SCHEDULE 13G
 
 
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
 
 
 
MEET GROUP INC/THE
(Name of Issuer)
 
Common Stock
(Title of Class of Securities)
 
 
58513U101
                                (CUSIP Number)                                
 
December 31, 2019
(Date of Event Which Requires Filing of this Statement)
 
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
 
x Rule 13d-1(b)
 
¨ Rule 13d-1(c)
 
¨ Rule 13d-1(d)
 
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
 
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 58513U101
    
 
  1. 
Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
 
 
            Dimensional Fund Advisors LP (Tax ID: 30-0447847)
    2. 
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ¨
(b)  x
    3. 
SEC Use Only
 
 
 
    4. 
Citizenship or Place of Organization
 
 
            Delaware Limited Partnership
  
 
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
 
 
  5. Sole Voting Power
 
 
            5599700 **see Note 1**
 
  6. Shared Voting Power
 
 
            0
 
  7. Sole Dispositive Power
 
 
            5825407 **see Note 1**
 
  8. Shared Dispositive Power
 
 
            0
  9. 
Aggregate Amount Beneficially Owned by Each Reporting Person
 
 
            5825407 **see Note 1**
  10. 
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
 
 
            N/A
  11. 
Percent of Class Represented by Amount in Row (9)
 
 
            8.12%
  12. 
Type of Reporting Person (See Instructions)
 
 
            IA
  

Item 1.         (a) 
Name of Issuer
 
MEET GROUP INC/THE
  (b) 
Address of Issuer’s Principal Executive Offices
 
100 Union Square Drive, New Hope,PA,18938
Item 2.         (a) 
Name of Person Filing
 
Dimensional Fund Advisors LP
  (b) 
Address of Principal Business Office, or if none, Residence
 
Building One
6300 Bee Cave Road
Austin, Texas, 78746
  (c) 
Citizenship
 
Delaware Limited Partnership
  (d) 
Title of Class of Securities
 
Common Stock
  (e) 
CUSIP Number
 
58513U101
Item 3. If this statement is filed pursuant to Sec. 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:  (a) ¨  Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);  (b) ¨  Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);  (c) ¨  Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);  (d) ¨  Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);  (e) x  An investment adviser in accordance with Sec. 240.13d-1(b)(1)(ii)(E);  (f) ¨  An employee benefit plan or endowment fund in accordance with Sec. 240.13d-1(b)(1)(ii)(F);  (g) ¨  A parent holding company or control person in accordance with Sec. 240.13d-1(b)(1)(ii)(G);  (h) ¨  A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);  (i) ¨  A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);  (j) ¨  A non-U.S. institution in accordance with Sec. 240.13d-1(b)(1)(ii)(J);  (k) ¨  Group, in accordance with Sec. 240.13d-1(b)(1)(ii)(J).Item 4. Ownership.Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.  (a) 
Amount beneficially owned:
 
5825407 **see Note 1**
  (b) 
Percent of class:
 
8.12%

  (c)  Number of shares as to which the person has:     (i)  
Sole power to vote or to direct the vote:
 
5599700 **see Note 1**
     (ii)  
Shared power to vote or to direct the vote:
 
0
     (iii)  
Sole power to dispose or to direct the disposition of:
 
5825407 **see Note 1**
     (iv)  
Shared power to dispose or to direct the disposition of:
 
0
 
** Note 1 ** Dimensional Fund Advisors LP, an investment adviser registered under Section 203 of the Investment Advisors Act of 1940, furnishes investment advice to four investment companies registered under the Investment Company Act of 1940, and serves as investment manager or sub-adviser to certain other commingled funds, group trusts and separate accounts (such investment companies, trusts and accounts, collectively referred to as the “Funds”). In certain cases, subsidiaries of Dimensional Fund Advisors LP may act as an adviser or sub-adviser to certain Funds. In its role as investment advisor, sub-adviser and/or manager, Dimensional Fund Advisors LP or its subsidiaries (collectively, “Dimensional”) may possess voting and/or investment power over the securities of the Issuer that are owned by the Funds, and may be deemed to be the beneficial owner of the shares of the Issuer held by the Funds. However, all securities reported in this schedule are owned by the Funds. Dimensional disclaims beneficial ownership of such securities. In addition, the filing of this Schedule 13G shall not be construed as an admission that the reporting person or any of its affiliates is the beneficial owner of any securities covered by this Schedule 13G for any other purposes than Section 13(d) of the Securities Exchange Act of 1934.
 
Item 5.  Ownership of Five Percent or Less of a ClassIf this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [  ].Item 6.  Ownership of More than Five Percent on Behalf of Another Person   The Funds described in Note 1 above have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the securities held in their respective accounts. To the knowledge of Dimensional, the interest of any one such Fund does not exceed 5% of the class of securities. Dimensional Fund Advisors LP disclaims beneficial ownership of all such securities.Item 7.  Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person.   N/AItem 8.  Identification and Classification of Members of the Group   N/AItem 9.  Notice of Dissolution of Group   N/AItem 10.  Certification   
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under Sec. 240.14a-11.

SIGNATURE
 
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
 

DIMENSIONAL FUND ADVISORS LPFebruary 12, 2020Date
By: Dimensional Holdings Inc., General Partner
/s/ Christopher Crossan
SignatureGlobal Chief Compliance OfficerTitle

Dimensional Fund Advisors Lp has filed an amended 13G/A, reporting 8.12% ownership in

In

The Meet Group Participates in Safer Internet Day, Hosts Public Dating Safety Webinar

Source: Business Wire
The Meet Group Joins UN Global Partnership to End Violence Against Children
The Meet Group, Inc. (NASDAQ: MEET), a leading provider of interactive livestreaming solutions, will team with safety experts and dating industry executives to recognize February 11th as “Safer Internet Day”. The Company will host a webinar focused on safety best practices and the future of safe dating, featuring Geoff Cook, Chief Executive Officer of The Meet Group.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200210005221/en/

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The Meet Group Participates in Safer Internet Day, Hosts Public Dating Safety Webinar (Photo: Business Wire)

Safer Internet Day, observed annually on the first Tuesday of February, was created in 2004 to raise awareness of emerging online issues – including cyberbullying, human trafficking, identity theft, and more.
The Meet Group remains committed to leading the industry in mobile and online safety, best practices, continuous improvement, and best-in-class safety updates for its family of apps. To underscore the Company’s commitment to safety, The Meet Group has over 500 paid individuals, more than half of it’s staff, dedicated to creating a safe environment for its millions of users.
Furthering its commitment to safety, The Meet Group recently became a member of The Global Partnership to End Violence Against Children as part of its ongoing dedication to safety. The Global Partnership is a collaboration between United Nations agencies, numerous governments, industries, advocates, and champions, all focused on making the world safe for children. By committing to end all forms of violence against children, and uniting the world behind a global movement to protect children, The Global Partnership hopes to secure a world in which every child grows up safe.
“The Meet Group has integrated safety into the design of their operations, making their platforms and applications safer for children,” said Dr. Howard Taylor, Executive Director of The UN Global Partnership to End Violence Against Children. “Because of that, we are thrilled to have The Meet Group join our network of 400 partners across the world.”
Safety Webinar Details:
Date: Safer Internet Day, February 11, 2020
Time: 2:30 p.m. EST
Topic: Collaborating Our Way to Safer Dating
Moderator: Mark Brooks, Founder, Internet Dating Excellence Association
Panelists:

Geoff Cook, Co-Founder and Chief Executive Officer of The Meet Group

Parry Aftab, Advisor to Nations, NGOs. Founder Cybersafety Group

Jens Kammerer, Founder and Chief Executive Officer of Jaumo

Christof Wittig, Founder and Chief Executive Officer of Hornet Networks

Details: 30 Minute Discussion Plus a Q&A Session with the Panel
Webinar Registration Link: http://bit.ly/SaferInternetDayWebinar
About The Meet Group
The Meet Group (NASDAQ: MEET) is a leading provider of interactive livestreaming solutions designed to meet the universal need for human connection. Our ecosystem of livestreaming apps enables users around the world to interact through one-to-many livestreaming broadcasts and text-based conversations. Our top apps, MeetMe®, LOVOO®, Skout®, Tagged® and Growlr®, deliver live interactions and meaningful connections to millions of users daily. Headquartered in New Hope, PA, we have offices in Philadelphia, San Francisco, Dresden, and Berlin. The Meet Group is committed to safety. You can find a description of current safety practices here: https://www.themeetgroup.com/safety-practices/. For more information, visit themeetgroup.com, and follow us on Facebook, Twitter or LinkedIn.
?
View source version on businesswire.com: https://www.businesswire.com/news/home/20200210005221/en/
Investors:
Leslie Arena / larena@themeetgroup.com
(267) 714-6418
Media:
Brandyn Bissinger / bbissinger@themeetgroup.com
(267) 446-7010

* * $MEET Video Chart 02-06-2020 * *

Link to Video - click here to watch the technical chart video

The Meet Group Joins WePROTECT Global Alliance to Improve User Safety Worldwide

Source: Business Wire
The Meet Group, Inc. (NASDAQ: MEET), a leading provider of interactive livestreaming solutions, today announced its membership in the WePROTECT Global Alliance to End Child Sexual Exploitation Online.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200123005145/en/
"The Meet Group's innovative contributions with the recently announced Project Artemis with Microsoft demonstrate its firm commitment to enhancing online safety,” said Ernie Allen, Chairman of WePROTECT. “We are excited to welcome The Meet Group as the newest member of the WePROTECT Global Alliance."
The WePROTECT Global Alliance is an international organization with a mission to end child sexual exploitation online. Membership in the WePROTECT Global Alliance affords the opportunity for private industry and NGOs to foster further collaboration between government and law enforcement agencies.
“The Meet Group remains committed to providing an environment where our users can connect and interact safely, and we are pleased to join another international organization that shares our vision,” said Geoff Cook, Chief Executive Officer of The Meet Group. “We are looking forward to working hand-in-hand with our peers, creating innovative solutions to ensure a safer online community for all.”
The Meet Group joins 22 other tech companies including Apple, Google, Microsoft, Facebook, Twitter, and Tencent as a member in the WePROTECT Global Alliance.
About The Meet Group
The Meet Group (NASDAQ: MEET) is a leading provider of interactive livestreaming solutions designed to meet the universal need for human connection. Our ecosystem of livestreaming apps enables users around the world to interact through one-to-many livestreaming broadcasts and text-based conversations. Our top apps, MeetMe®, LOVOO®, Skout®, Tagged® and Growlr®, deliver live interactions and meaningful connections to millions of users daily. Headquartered in New Hope, PA, we have offices in Philadelphia, San Francisco, Dresden, and Berlin. The Meet Group is committed to safety. You can find a description of current safety practices here: https://www.themeetgroup.com/safety-practices/. For more information, visit themeetgroup.com, and follow us on Facebook, Twitter or LinkedIn.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including whether we will work with our peers to create innovative solutions that ensure a safer online community as anticipated. All statements other than statements of historical facts contained herein are forward-looking statements. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “project,” “outlook,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the risk that our applications will not function easily or otherwise as anticipated, the risk that we will not launch additional features and upgrades as anticipated, the risk that unanticipated events affect the functionality of our applications with popular mobile operating systems, any changes in such operating systems that degrade our mobile applications’ functionality and other unexpected issues which could adversely affect usage on mobile devices. Further information on our risk factors is contained in our filings with the Securities and Exchange Commission (“SEC”), including the Form 10-K for the year ended December 31, 2018 filed with the SEC on March 8, 2019 and our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2019, June 30, 2019, and September 30, 2019 filed with the SEC on May 9, 2019, July 31, 2019, and November 8, 2019, respectively. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20200123005145/en/
Investor Contact:
Leslie Arena
larena@themeetgroup.com
267 714 6418
Media Contact:
Brandyn Bissinger
bbissinger@themeetgroup.com
267 446 7010

The Meet Group Collaborates with Microsoft on Technology to Detect Child Sex Predators

Source: Business Wire
The Meet Group, Inc. (NASDAQ: MEET), a leading provider of interactive livestreaming solutions, today welcomed Microsoft’s announcement that it was sharing a new tool, created in collaboration with The Meet Group and others, to help better detect on-line behaviors aimed at child exploitation. The new algorithm-based technology helps to better detect, address and report online predators attempting to lure children for sexual purposes. More information on Microsoft’s announcement can be found here.
“Keeping children safe is a responsibility that we take incredibly seriously,” said Geoff Cook, Chief Executive Officer of The Meet Group. “While we prohibit minors from using our apps, the broader threat of child sex predators exists across the social landscape. We are pleased to have been invited to partner with one of the world’s most respected companies on this important issue. We believe this detection technology will prove beneficial in identifying and reducing child predatory behavior. Further, we commend Microsoft on its openness in broadly sharing this capability across the industry and we have already begun incorporating its safety algorithm into our platform.”
Courtney Gregoire, Chief Digital Safety Officer of Microsoft said, “At Microsoft, we embrace a multi-stakeholder model to combatting online child exploitation that includes survivors and their advocates, government, tech companies, and civil society working together. Today, we are excited to share a new technique – code name Project Artemis – developed in close collaboration with The Meet Group and others, that will help prevent the online grooming of children for sexual purposes. We invite other collaborators to embrace this technique, join the fight, and support continuous improvement.”
About The Meet Group
The Meet Group (NASDAQ: MEET) is a leading provider of interactive livestreaming solutions designed to meet the universal need for human connection. Our ecosystem of livestreaming apps enables users around the world to interact through one-to-many livestreaming broadcasts and text-based conversations. Our top apps, MeetMe®, LOVOO®, Skout®, Tagged® and Growlr®, deliver live interactions and meaningful connections to millions of users daily. Headquartered in New Hope, PA, we have offices in Philadelphia, San Francisco, Dresden, and Berlin. The Meet Group is committed to safety. You can find a description of current safety practices here: https://www.themeetgroup.com/safety-practices/. For more information, visit themeetgroup.com, and follow us on Facebook, Twitter or LinkedIn.
?
View source version on businesswire.com: https://www.businesswire.com/news/home/20200110005268/en/
Investor:
Leslie Arena
larena@themeetgroup.com
267 714 6418

Media:
Brandyn Bissinger
bbissinger@themeetgroup.com
267 446 7010

The Meet Group Adds Industry Executive to Lead Video Platform as a Service (vPaaS) Business

Source: Business Wire
The Meet Group, Inc. (NASDAQ: MEET), a leading provider of interactive livestreaming solutions, today announced that Blake Barrett Kuhre has joined the Company as Senior Vice President of Corporate Development. In this new role, Kuhre will lead development for the Company’s vPaaS solutions business and general corporate development efforts, with responsibility for identifying and executing new partner opportunities to drive revenue and earnings growth. Additionally, he will contribute to expanding the Company’s video talent recruitment processes and will pursue industry opportunities to further strengthen the Company’s leadership position in social and dating safety.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200106005142/en/

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The Meet Group, Inc. announced that Blake Barrett Kuhre has joined the Company as Senior Vice President of Corporate Development. (Photo: Business Wire)

“vPaaS is one of our most compelling growth initiatives and we believe that we are at the forefront of bringing live video to new partners across the mobile landscape,” said Geoff Cook, Chief Executive Officer of The Meet Group. “We are pleased to welcome Blake to our team. We expect his expertise in driving new revenue in live video will contribute to our objective of expanding our vPaaS business and realizing the next level of growth for The Meet Group."
Kuhre joins The Meet Group having served as Head of Global Partnerships at LiveMe, a leading livestreaming platform, where his responsibilities included global strategic partnerships, corporate development and trust and safety management. Prior to working at LiveMe, Kuhre held various leadership roles including in Viewer Experience and Product Launch at Hulu and a decade of experience with On-Air Programming at The Walt Disney Company.
About The Meet Group
The Meet Group (NASDAQ: MEET) is a leading provider of interactive livestreaming solutions designed to meet the universal need for human connection. Our ecosystem of livestreaming apps enables users around the world to interact through one-to-many livestreaming broadcasts and text-based conversations. Our top apps, MeetMe®, LOVOO®, Skout®, Tagged® and Growlr®, deliver live interactions and meaningful connections to millions of users daily. Headquartered in New Hope, PA, we have offices in Philadelphia, San Francisco, Dresden, and Berlin. The Meet Group is committed to safety. You can find a description of current safety practices here: https://www.themeetgroup.com/safety-practices/. For more information, visit themeetgroup.com, and follow us on Facebook, Twitter or LinkedIn.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including whether we will identify and execute new partner opportunities that drive revenue and earnings growth, whether we will expand our video talent recruitment process, whether we will pursue industry opportunities to further strengthen our leadership position in social and dating safety as expected, whether we will bring live video to new partners across the mobile landscape as expected, whether we will expand our vPaaS business and realize the next level of growth for The Meet Group as expected. All statements other than statements of historical facts contained herein are forward-looking statements. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “project,” “outlook,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the risk that our applications will not function easily or otherwise as anticipated, the risk that we will not launch additional features and upgrades as anticipated, the risk that unanticipated events affect the functionality of our applications with popular mobile operating systems, any changes in such operating systems that degrade our mobile applications’ functionality and other unexpected issues which could adversely affect usage on mobile devices. Further information on our risk factors is contained in our filings with the Securities and Exchange Commission (“SEC”), including the Form 10-K for the year ended December 31, 2018 filed with the SEC on March 8, 2019 and our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2019, June 30, 2019, and September 30, 2019 filed with the SEC on May 9, 2019, July 31, 2019, and November 8, 2019, respectively. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20200106005142/en/
Investor Contact:
Leslie Arena
larena@themeetgroup.com
267 714 6418
Media Contact:
Brandyn Bissinger
bbissinger@themeetgroup.com
267 446 7010

News: $MEET Why Meet Group Stock Jumped 18% Today, Then Collapsed

Chat and dating app-maker Meet Group (NASDAQ: MEET) surged more than 18% in noonday trading Monday before retreating to close the day still up 5.3%. Reuters reported late this morning that NuCom, a subsidiary of German broadcaster ProSiebenSat.1 Media SE, is looking into buying Meet Group. ...

In case you are interested MEET - Why Meet Group Stock Jumped 18% Today, Then Collapsed

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The Meet Group Partners with East Trenton Center Food Bank to Help Others this Thanksgiving

Source: Business Wire
The Meet Group, Inc. (NASDAQ: MEET), a leading provider of interactive livestreaming solutions, is teaming up with the East Trenton Center Food Bank this holiday season by offering a special edition virtual gift on MeetMe, Skout and Tagged mobile apps.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191122005098/en/

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The Meet Group Partners with East Trenton Center Food Bank to Help Others this Thanksgiving (Graphic: Business Wire)

The East Trenton Center serves more than a hundred families every week by providing bags of food to help people in need. This Thanksgiving, users of MeetMe, Skout and Tagged can purchase a custom food donation gift to help make the season a little brighter for those who need it the most.
“Food insecurity is a real issue for many families today. End Hunger NJ notes that 13% of New Jersey residents, or more than 1.1 million, face this epidemic,” said The Meet Group’s Senior Accounting Manager and Food Drive Coordinator, Leighanne Sadley. “Our entire staff at TMG has donated for years to help consistently fill the food pantry at the East Trenton Center and we’re excited to have our users participate from all around the world this year through our apps. America has a hunger problem and we all need to do our part to help.”
The Meet Group plans to make a donation for every East Trenton Center Food Bank gift sent in the apps up to an aggregate of $10,000 to the East Trenton Center Food Bank. The limited edition gift will be available from November 22nd through November 29th.
“The Meet Group’s donations over the last two years have been received with tears and celebration,” said Liz Leonard, East Trenton Center’s Director. “The company provided 13,500 items in 2018, which helped feed hundreds of people. My heart breaks for these families who have great need and when The Meet Group is so generous, I do not have to turn anyone away who is hungry.”
“The reality is that people are not just hungry at Thanksgiving or other holidays. They are hungry throughout the year,” said Dennis ONeill, Pastor of Calvary Baptist Church in Hopewell, New Jersey. “The additional funds from these donations will help the ETC serve their clients all year long. That means hundreds of kids in the East Trenton area won’t have to go to bed hungry every night and seniors won’t have to decide between buying food or needed medications. It doesn’t take much to have a significant impact on the lives of others who are in need. Some of the most transformative moments of my life have been seeing the grateful tears of parents who will be able to feed their kids because of the compassion of others.”
About The Meet Group
The Meet Group (NASDAQ: MEET) is a leading provider of interactive livestreaming solutions designed to meet the universal need for human connection. Our ecosystem of livestreaming apps enables users around the world to interact through one-to-many livestreaming broadcasts and text-based conversations. Our top apps, MeetMe®, LOVOO®, Skout®, Tagged® and Growlr®, deliver live interactions and meaningful connections to millions of users daily. Headquartered in New Hope, PA, we have offices in Philadelphia, San Francisco, Dresden, and Berlin. The Meet Group is committed to safety. You can find a description of current safety practices here: https://www.themeetgroup.com/safety-practices/. For more information, visit themeetgroup.com, and follow us on Facebook, Twitter or LinkedIn.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20191122005098/en/
Investor Contact:
Leslie Arena / larena@themeetgroup.com
(267) 714-6418
Media Contact:
Brandyn Bissinger / bbissinger@themeetgroup.com
(267) 446-7010

The Meet Group Releases “Viewer Levels” on MeetMe and Skout

Source: Business Wire
Recently Launched NextDate Dating Game Now Available to All US Users
The Meet Group, Inc. (NASDAQ:MEET), a leading provider of interactive livestreaming solutions, today announced that it has released a new “Viewer Levels” feature for viewers of its popular livestreaming product. Viewer Levels is now available to users of its MeetMe and Skout mobile apps.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191119005226/en/

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(Graphic: Business Wire)

With the new product, livestreaming viewers will earn experience points, or XP, by spending time engaging with broadcasters and purchasing virtual gifts for them. On reaching certain XP thresholds, viewers will level-up through the ranks, from Rookie to Legend, while unlocking exclusive gifts like dinosaurs, dancing pineapples, castles, and more.
“After successfully launching a level-based progression system for broadcasters in July, we are now thrilled to offer a similarly gamified program for viewers to motivate them to engage even more,” said Geoff Cook, Chief Executive Officer of The Meet Group. “We believe we can further leverage these level systems to shape user behavior in the future by attaching XP bonuses or minimum level requirements to new features, contests, and promotions.”
Viewer Levels appear publicly on avatars and profiles in Live for viewers who reach Level 20. The company expects to bring the feature to its other apps by the end of the first quarter.
“Today, we are also pleased to announce that NextDate, our first-of-its-kind livestreaming dating game, is now available to all US users of our MeetMe and Skout apps,” continued Cook. “Now everyone can be the star of their very own dating game. We are pleased as well to see early performance in-line with expectations. In fact, just this weekend vDAU surpassed 900,000 for the first time since June. We look forward to growing this number further as NextDate rolls out to users in non-English markets on MeetMe and Skout later this year and to users of our apps Tagged and LOVOO in January.”
About The Meet Group
The Meet Group (NASDAQ: MEET) is a leading provider of interactive livestreaming solutions designed to meet the universal need for human connection. Our ecosystem of livestreaming apps enables users around the world to interact through one-to-many livestreaming broadcasts and text-based conversations. Our top apps, MeetMe®, LOVOO®, Skout®, Tagged® and Growlr®, deliver live interactions and meaningful connections to millions of users daily. Headquartered in New Hope, PA, we have offices in Philadelphia, San Francisco, Dresden, and Berlin. The Meet Group is committed to safety. You can find a description of current safety practices here: https://www.themeetgroup.com/safety-practices/. For more information, visit themeetgroup.com, and follow us on Facebook, Twitter or LinkedIn.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including whether Levels will motivate users to engage even more, whether we can further leverage these level systems to shape user behavior in the future by attaching XP bonuses or minimum level requirements to new features, contests, and promotions, whether we will bring the feature to our other apps by the end of the first quarter, whether early performance NextDate is indicative of future performance, whether we will grow our VDAU number further as NextDate rolls out to users in non-English markets on MeetMe and Skout, and whether we will roll-our NextDate to users in non-English markets on MeetMe and Skout, as well as our Tagged and LOVOO apps, as expected. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “project,” “outlook,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the risk that our applications will not function easily or otherwise as anticipated, the risk that we will not launch additional features and upgrades as anticipated, the risk that unanticipated events affect the functionality of our applications with popular mobile operating systems, any changes in such operating systems that degrade our mobile applications’ functionality and other unexpected issues which could adversely affect usage on mobile devices. Further information on our risk factors is contained in our filings with the Securities and Exchange Commission (“SEC”), including the Form 10-K for the year ended December 31, 2018 filed with the SEC on March 8, 2019 and our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2019, June 30, 2019, and September 30, 2019 filed with the SEC on May 9, 2019, July 31, 2019, and November 8, 2019, respectively. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20191119005226/en/
Investor Contact:
Leslie Arena / larena@themeetgroup.com
(267) 714-6418
Media Contact:
Brandyn Bissinger / bbissinger@themeetgroup.com
(267) 446-7010

The Meet Group Ranked One of the Fastest Growing Companies in North America by Deloitte

Source: Business Wire
The Meet Group, Inc. (NASDAQ: MEET), a leading provider of interactive livestreaming solutions, announced it secured a place on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America.
The Meet Group’s Chief Executive Officer, Geoff Cook, credits strategic acquisitions and live video with the company’s 214% revenue growth in the four-year period from 2015 to 2018.
“We are honored to be named to the Deloitte’s Technology Fast 500™ list for the seventh time,” said Geoff Cook, Chief Executive Officer of The Meet Group. “Our goal is to build the best place to meet new people through video. Since 2015, we have expanded our global footprint by acquiring four mobile apps, Skout, Tagged, LOVOO and GROWLr. We are focused on accelerating growth across our portfolio of brands through innovating our livestreaming video product and sharing best practices in monetization and engagement across our mobile apps.”
“This year marks the 25th anniversary of Deloitte’s Technology Fast 500, so we are especially pleased to announce and congratulate the 2019 winners,” said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader.
“As technology innovation trends towards ‘everything as a service,’ it’s no surprise that software companies dominate the winners list yet again this year,” said Mohana Dissanayake, partner, Deloitte & Touche LLP, and industry leader for technology, media and telecommunications, within Deloitte’s audit and assurance practice. "We congratulate all the well-deserving winners.”
About The Meet Group
The Meet Group (NASDAQ: MEET) is a leading provider of interactive livestreaming solutions designed to meet the universal need for human connection. Our ecosystem of livestreaming apps enables users around the world to interact through one-to-many livestreaming broadcasts and text-based conversations. Our top apps, MeetMe®, LOVOO®, Skout®, Tagged® and Growlr®, deliver live interactions and meaningful connections to millions of users daily. Headquartered in New Hope, PA, we have offices in Philadelphia, San Francisco, Dresden, and Berlin. The Meet Group is committed to safety. You can find a description of current safety practices here: https://www.themeetgroup.com/safety-practices/. For more information, visit themeetgroup.com, and follow us on Facebook, Twitter or LinkedIn.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including whether we will build the best place to meet new people through video; whether we will be successful in accelerating growth across our portfolio of brands through innovating our livestreaming video product and sharing best practices in monetization and engagement across our mobile apps. All statements other than statements of historical facts contained herein are forward-looking statements. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “project,” “outlook,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the risk that our applications will not function easily or otherwise as anticipated, the risk that we will not launch additional features and upgrades as anticipated, the risk that unanticipated events affect the functionality of our applications with popular mobile operating systems, any changes in such operating systems that degrade our mobile applications’ functionality and other unexpected issues which could adversely affect usage on mobile devices. Further information on our risk factors is contained in our filings with the Securities and Exchange Commission (“SEC”), including the Form 10-K for the year ended December 31, 2018 filed with the SEC on March 8, 2019 and our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2019, June 30, 2019, and September 30, 2019 filed with the SEC on May 9, 2019, July 31, 2019, and November 8, 2019, respectively. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20191112005253/en/
Investor Contact:
Leslie Arena
larena@themeetgroup.com
267 714 6418
Media Contact:
Brandyn Bissinger
bbissinger@themeetgroup.com
267 446 7010

The Meet Group Reports Third Quarter 2019 Financial Results

Source: Business Wire
The Meet Group, Inc. (NASDAQ: MEET), a leading provider of interactive livestreaming solutions, today reported financial results for its third quarter ended September 30, 2019.
Third Quarter 2019 Financial Highlights

Total revenue of $52.6 million, up 15% from the prior year quarter.

GAAP net income of $3.0 million, or $0.04 per diluted share, compared to a GAAP net income of $1.3 million or $0.02 per diluted share in the prior year quarter.

Adjusted EBITDA of $11.0 million, compared to Adjusted EBITDA of $8.7 million in the prior year quarter.

Non-GAAP net income of $10.1 million, or $0.13 per diluted share, compared to $7.6 million, or $0.10 per diluted share, in the prior year quarter.

(See the important discussion about the presentation of non-GAAP financial measures, and reconciliation to the most direct comparable GAAP financial measures, below.)
“We had a strong third quarter and we are off to a good start in the fourth quarter,” said Geoff Cook, Chief Executive Officer of The Meet Group. “Our product strategy and execution contributed to growing revenue and adjusted EBITDA, resulting in record-high free cash flow in the third quarter that we used to repurchase our stock. With the launch of Streamer Levels and one-on-one video chat, we are giving users even more reasons to engage in video. Just last week we further expanded our product portfolio with the launch of NextDate, our new livestreaming dating game. While early, in markets where NextDate is available, we’re seeing an approximately 20% increase in daily video users versus September, the month prior to launch.
“Video revenue for the third quarter grew approximately 85% from the prior year quarter to $20.3 million,” continued Cook. “Global average revenue per daily active video user was $0.27 cents in the quarter, and across our apps we had an average of 829,000 daily video users (20% of our total mobile daily active users where video is available). We expect to grow video revenue in the fourth quarter by 10-16% sequentially as new products and features contribute to increasing user engagement. Video revenue in October exceeded video revenue in every month of the third quarter. Furthermore the Company expects November and December video revenue to continue to increase from October.
“Advertising results for the quarter were also solid. Mobile ad revenue, which comprises approximately 90% of our total advertising revenue, grew year-over-year for the first time since the first quarter of 2017. We believe this progress sets the stage for continued positive momentum in the fourth quarter of 2019 and throughout 2020.
"In the third quarter we repurchased 3.4 million shares of our stock for $12 million, directing 100% of our free cash flow in the quarter toward repurchases. Since authorizing our share repurchase plan in June 2019, the Company has repurchased $17.7 million (4.8 million shares) through November 5, 2019. We expect to continue to repurchase shares pursuant to our share repurchase program.
“Looking to the fourth quarter and longer term, we believe we have compelling products that position us well for future growth. We remain confident that our product pipeline and capital allocation strategy will continue to deliver value to our shareholders.”
Third Quarter Financial Results
For the third quarter of 2019, the Company reported revenue of $52.6 million, an increase of $6.9 million, or 15%, from $45.7 million in the third quarter of 2018. GAAP net income for the third quarter of 2019 was $3.0 million, or $0.04 per diluted share, compared to GAAP net income of $1.3 million or $0.02 per diluted share in the third quarter of 2018. Adjusted EBITDA for the third quarter of 2019 was $11.0 million, compared to $8.7 million in the third quarter of 2018. Non-GAAP net income for the third quarter of 2019 was $10.1 million, or $0.13 per diluted share, compared to $7.6 million, or $0.10 per diluted share, in the third quarter of 2018.
The Company ended the quarter with $27.5 million in cash and cash equivalents.
Company Outlook
The Company is providing the following outlook for the fourth quarter and full year 2019.
Fourth quarter 2019:

Revenue in the range of $56.9 million to $58.4 million.

Adjusted EBITDA in the range of $12.6 million to $13.1 million.

Full year 2019:

Revenue in the range of $211.0 million to $212.5 million

Adjusted EBITDA in the range of $41.5 million to $42.0 million.

THE MEET GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
 
 
 
 
 
(Unaudited)
 
 
 
September 30,
2019
 
December 31,
2018
Assets:
 
 
 
Current Assets:
 
 
 
Cash and cash equivalents
$
27,488,790
 
 
$
28,365,725
 
Accounts receivable, net of allowance of $600,070 and $383,579 as of September 30, 2019 and December 31, 2018, respectively
23,922,049
 
 
27,148,484
 
Prepaid expenses and other current assets
5,177,333
 
 
4,911,057
 
Total current assets
56,588,172
 
 
60,425,266
 
Goodwill
155,307,593
 
 
148,132,873
 
Property and equipment, net
3,832,875
 
 
4,633,764
 
Operating lease right-of-use assets
4,995,799
 
 
—
 
Intangible assets, net
31,444,141
 
 
36,558,439
 
Deferred taxes
15,380,576
 
 
15,648,572
 
Other assets
1,541,514
 
 
2,453,255
 
Total assets
$
269,090,670
 
 
$
267,852,169
 
Liabilities and Stockholders' Equity:
 
 
 
Current Liabilities:
 
 
 
Accounts payable
$
4,672,207
 
 
$
9,071,193
 
Accrued liabilities
20,070,961
 
 
19,112,303
 
Current portion of long-term debt, net
3,500,000
 
 
18,566,584
 
Current portion of finance lease obligations
12,913
 
 
134,067
 
Current portion of operating lease liabilities
2,138,029
 
 
—
 
Deferred revenue
4,071,239
 
 
4,620,690
 
Total current liabilities
34,465,349
 
 
51,504,837
 
Long-term finance lease obligations
8,323
 
 
58,683
 
Long-term debt, net
31,251,928
 
 
18,087,956
 
Long-term operating lease liabilities
2,900,105
 
 
—
 
Long-term derivative liability
636,612
 
 
940,216
 
Other liabilities
871,084
 
 
39,651
 
Total liabilities
70,133,401
 
 
70,631,343
 
Commitments and contingencies
 
 
 
Stockholders' Equity:
 
 
 
Preferred stock, $0.001 par value; authorized - 5,000,000 shares; no shares issued and outstanding as of September 30, 2019 and December 31, 2018
—
 
 
—
 
Common stock, $0.001 par value; authorized - 100,000,000 shares; 72,834,032 and 74,697,526 shares issued and outstanding as of September 30, 2019 and December 31, 2018, respectively
72,834
 
 
74,700
 
Additional paid-in capital
428,106,985
 
 
419,455,818
 
Accumulated deficit
(226,077,248
)
 
(220,276,025
)
Accumulated other comprehensive loss
(3,145,302
)
 
(2,033,667
)
Total stockholders’ equity
198,957,269
 
 
197,220,826
 
Total liabilities and stockholders’ equity
$
269,090,670
 
 
$
267,852,169
 
THE MEET GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
 
 
 
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2019
 
2018
 
2019
 
2018
Revenues
$
52,621,250
 
 
$
45,716,053
 
 
$
154,134,591
 
 
$
126,155,591
 
Operating costs and expenses:
 
 
 
 
 
 
 
Sales and marketing
8,748,021
 
 
8,753,156
 
 
25,648,417
 
 
23,554,635
 
Product development and content
30,573,574
 
 
26,134,682
 
 
91,846,746
 
 
72,647,507
 
General and administrative
5,320,424
 
 
4,938,844
 
 
16,140,643
 
 
15,562,125
 
Depreciation and amortization
3,451,197
 
 
3,423,929
 
 
10,079,319
 
 
10,558,712
 
Acquisition and restructuring
244,432
 
 
416,141
 
 
748,881
 
 
4,802,694
 
Total operating costs and expenses
48,337,648
 
 
43,666,752
 
 
144,464,006
 
 
127,125,673
 
Income (loss) from operations
4,283,602
 
 
2,049,301
 
 
9,670,585
 
 
(970,082
)
Other income (expense):
 
 
 
 
 
 
 
Interest income
28,752
 
 
3,823
 
 
88,746
 
 
13,773
 
Interest expense
(300,319
)
 
(559,345
)
 
(1,031,379
)
 
(1,838,325
)
(Loss) gain on foreign currency transactions
(27,051
)
 
(6,229
)
 
(94,640
)
 
101,030
 
Gain on disposal of assets
40,376
 
 
—
 
 
40,376
 
 
—
 
Other items of income, net
2,030
 
 
6,527
 
 
4,792
 
 
28,154
 
Total other expense
(256,212
)
 
(555,224
)
 
(992,105
)
 
(1,695,368
)
Income (loss) before income tax expense
4,027,390
 
 
1,494,077
 
 
8,678,480
 
 
(2,665,450
)
Income tax expense
(1,036,410
)
 
(196,146
)
 
(2,226,075
)
 
(484,552
)
Net income (loss)
$
2,990,980
 
 
$
1,297,931
 
 
$
6,452,405
 
 
$
(3,150,002
)
 
 
 
 
 
 
 
 
Basic and diluted net income (loss) per share:
 
 
 
 
 
 
 
Basic net income (loss) per share
$
0.04
 
 
$
0.02
 
 
$
0.09
 
 
$
(0.04
)
Diluted net income (loss) per share
$
0.04
 
 
$
0.02
 
 
$
0.08
 
 
$
(0.04
)
 
 
 
 
 
 
 
 
Weighted-average shares outstanding:
 
 
 
 
 
 
 
Basic
74,674,981
 
 
73,362,467
 
 
75,056,593
 
 
72,704,205
 
Diluted
76,205,022
 
 
79,365,576
 
 
77,836,975
 
 
72,704,205
 
THE MEET GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
 
 
Nine Months Ended
September 30,
 
2019
 
2018
Cash flows from operating activities:
 
 
 
Net income (loss)
$
6,452,405
 
 
$
(3,150,002
)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
 
 
 
Depreciation and amortization
10,079,319
 
 
10,558,712
 
Amortization of right-of-use assets
1,902,760
 
 
—
 
Stock-based compensation expense
8,321,345
 
 
7,026,991
 
Deferred tax expense (benefit)
211,533
 
 
(694,951
)
Gain on disposal of assets
(40,376
)
 
—
 
Loss (gain) on foreign currency transactions
94,640
 
 
(101,030
)
Bad debt expense
1,661,987
 
 
408,998
 
Non-cash interest expense
214,063
 
 
261,373
 
Changes in derivative financial instruments
—
 
 
(18,412
)
Changes in contingent consideration obligations
111,417
 
 
—
 
Changes in operating assets and liabilities:
 
 
 
Accounts receivable
1,878,915
 
 
1,302,954
 
Prepaid expenses, other current assets and other assets
2,355,628
 
 
(2,326,004
)
Accounts payable and accrued liabilities
(6,080,069
)
 
4,414,400
 
Deferred revenue
(510,352
)
 
515,743
 
Net cash provided by operating activities
26,653,215
 
 
18,198,772
 
Cash flows from investing activities:
 
 
 
Purchases of property and equipment
(1,158,070
)
 
(404,446
)
Acquisition of business, net of cash acquired
(11,807,925
)
 
—
 
Net cash used in investing activities
(12,965,995
)
 
(404,446
)
Cash flows from financing activities:
 
 
 
Proceeds from exercise of stock options
702,717
 
 
824,307
 
Repurchases of common stock
(12,257,073
)
 
—
 
Payments of finance leases
(167,378
)
 
(211,290
)
Proceeds from revolving loan
7,000,000
 
 
—
 
Proceeds from term loan, net
34,954,373
 
 
—
 
Payments for restricted stock awards withheld for taxes
(371,316
)
 
(306,127
)
Payments of loan origination costs
(125,170
)
 
—
 
Payments of revolving loan
(7,000,000
)
 
—
 
Payments of contingent consideration
—
 
 
(5,000,000
)
Payments of term loan
(36,940,158
)
 
(15,559,842
)
Net cash used in financing activities
(14,204,005
)
 
(20,252,952
)
Change in cash and cash equivalents prior to effect of foreign currency exchange rate
(516,785
)
 
(2,458,626
)
Effect of foreign currency exchange rate
(360,150
)
 
(271,982
)
Net decrease in cash and cash equivalents
(876,935
)
 
(2,730,608
)
Cash and cash equivalents at beginning of period
28,365,725
 
 
25,052,995
 
Cash and cash equivalents at end of period
$
27,488,790
 
 
$
22,322,387
 
Supplemental disclosure of cash flow information:
 
 
 
Cash paid for interest
$
865,260
 
 
$
1,598,781
 
THE MEET GROUP, INC.
DISAGGREGATION OF REVENUES
(UNAUDITED)
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2019
 
2018
 
2019
 
2018
 
$
 
%
 
$
 
%
 
$
 
%
 
$
 
%
User pay revenue:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Video
$
20,333,310
 
 
38.6
%
 
$
10,968,643
 
 
24.0
%
 
$
61,841,899

The Meet Group Launches NextDate™, a First-of-Its-Kind Livestreaming Dating Game

Source: Business Wire
Now, Everyone Can be the Star of Their Own Dating Game
The Meet Group, Inc. (NASDAQ: MEET), a leading provider of interactive livestreaming solutions, today announced the launch of NextDate™, a new livestreaming dating game, to users of its popular MeetMe and Skout mobile applications.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191029005389/en/

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Now, Everyone Can be the Star of Their Own Dating Game! (Graphic: Business Wire)

NextDate allows users to star in their own dating game. “NextDate is like speed dating, except that there’s an audience and the contestant gets to choose the specific people they’d like to connect with,” said Geoff Cook, CEO of The Meet Group. “We’ve gamified speed dating to add comments and a rating system called the Love-o-meter, while also enabling viewers to take their chances to date any streamer who is currently playing NextDate.”
In NextDate a streamer has 90 seconds to tap “Next,” which ends the current pairing and skips to the next contestant in the queue, or “Date,” which reciprocates the contestant’s interest and enables the two users to connect by 1:1 video chat in the future. NextDate provides hundreds of prompts to help the streamer get to know the contestant and evaluate their compatibility. The launch also includes a new “Date” tab within the Live section to make it easy to find nearby and trending people playing the game, and to filter by age, gender, and location. The game is monetized today via the same virtual gifting engine that has enabled The Meet Group to grow Live to an $80+ million annualized video business within two years.
The patent-pending dating game provides a livestreaming twist on a common format: the television dating game. Added Cook, “We believe more and more linear programming experiences will have a livestreaming analog, and we don’t believe anyone has yet cracked the code on the livestreaming dating game. We see NextDate as a way to further grow our video audience with a new type of content that resonates with our biggest segment: users interested in dating.
"As we conducted user research prior to building the game, we found that 95% of surveyed users would be willing to meet in real life with someone they first met through a livestreaming dating game. We also found that many of our users are interested in dating a streamer. We believe NextDate will help us expand the reach of our video products to our most dating-oriented users.
"We remain committed to achieving our goal of increasing our video audience by 20% by the first quarter of next year. While early, we are heartened that in the UK, where NextDate has been in beta-test mode, daily video viewers expanded by 20% when comparing the 21-day beta period to the average of the month of September.
"We have activated multiple initiatives designed to drive video usage, and to further that, we expect to launch NextDate on our other apps, Tagged and LOVOO, in the coming months, while also improving the game with a ‘blind date’ function as well as a new method of monetization that enables contestants to pay to skip the line and try to date a popular streamer more quickly.”
NextDate is available today on the MeetMe and Skout apps to English-language users to join as a contestant and to top streamers to join as the star. Within the coming weeks, the feature will be available to everyone to join as either the star or the contestant.
About The Meet Group
The Meet Group (NASDAQ: MEET) is a leading provider of interactive livestreaming solutions designed to meet the universal need for human connection. Our ecosystem of livestreaming apps enables users around the world to interact through one-to-many livestreaming broadcasts and text-based conversations. Our top apps, MeetMe®, LOVOO®, Skout®, Tagged® and Growlr®, deliver live interactions and meaningful connections to millions of users daily. Headquartered in New Hope, PA, we have offices in Philadelphia, San Francisco, Dresden, and Berlin. The Meet Group is committed to safety. You can find a description of current safety practices here: https://www.themeetgroup.com/safety-practices/. For more information, visit themeetgroup.com, and follow us on Facebook, Twitter or LinkedIn.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including whether a patent will issue for NextDate, whether more and more linear programming experiences will have a livestreaming analog; whether anyone has cracked the code on the livestreaming dating game; whether NextDate enable us to further grow our video audience with a new type of content that resonates with users interested in dating; whether NextDate will help us expand the reach of our video products to our most dating-oriented users; whether we will achieve our goal of increasing our video audience by 20% by Q1 of next year; whether our early tests of NextDate are indicative of future performance in terms of daily video viewers; whether our initiatives will drive video usage; whether we will launch NextDate on Tagged and LOVOO in the coming months, while also improving the game with a ‘blind date’ function as well as a new method of monetization that enables contestants to pay to skip the line and try to date a popular streamer more quickly. All statements other than statements of historical facts contained herein are forward-looking statements. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “project,” “outlook,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the risk that our applications will not function easily or otherwise as anticipated, the risk that we will not launch additional features and upgrades as anticipated, the risk that unanticipated events affect the functionality of our applications with popular mobile operating systems, any changes in such operating systems that degrade our mobile applications’ functionality and other unexpected issues which could adversely affect usage on mobile devices. Further information on our risk factors is contained in our filings with the Securities and Exchange Commission (“SEC”), including the Form 10-K for the year ended December 31, 2018 filed with the SEC on March 8, 2019. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20191029005389/en/
Investor Contact: 
Leslie Arena 
larena@themeetgroup.com
267 714 6418
Media Contact: 
Brandyn Bissinger 
bbissinger@themeetgroup.com
267 446 7010

* * $MEET Video Chart 10-07-2019 * *

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MEET buy 4.505

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MeetMe,Inc(Meet) Looks like we are moving Higher next week. $5+ by Friday

3 Penny Stocks Making New Highs In October

$MEET $FCEL $MGI

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* * $MEET Video Chart 10-04-2019 * *

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News: $MEET The Meet Group Adopts Tax Benefits Preservation Plan to Preserve Substantial Tax Assets

The Meet Group, Inc. (NASDAQ: MEET), a leading provider of interactive livestreaming solutions, today announced that its Board of Directors has approved the adoption of a tax benefits preservation plan (or “the plan”) in the form of a Section 382 Rights Agreement designed to pro...

Find out more MEET - The Meet Group Adopts Tax Benefits Preservation Plan to Preserve Substantial Tax Assets