MeetMe Launches “Boost” Virtual Currency Product in Chat

MeetMe, Inc. (NASDAQ: MEET), the public market leader for social discovery, has launched a new “Boost” feature that allows users to gain premium placement on both the main Meet tab and on the Chat tab of the redesigned MeetMe app. The product, which users can activate by spending MeetMe Credits, is designed to increase a user’s visibility on the app and lead to more chats for that user. MeetMe Credits can be purchased through the App Store or Google Play Market or earned by referring friends to MeetMe or completing actions on behalf of advertisers.

Boost replaces the former Spotlight Bar product, which was geared toward increasing profile views rather than chats, and was not as prominent within the app as the new Boost product. In addition to Boost, other virtual currency products available on MeetMe include Feed Spotlight, Match Spotlight, Unlock Photo Views, and Stealth Browsing.

“Our users buy approximately 800,000 virtual currency products a month using virtual currency Credits,” said Geoff Cook, CEO of MeetMe. “Boost is the most prominent virtual currency product we’ve ever launched and the first one aimed at Chat. We are heartened by the early data showing Boosted users receive more than 100% more chats than the average user. We expect Boost to replace Spotlight Bar as our number one virtual currency product. Moreover, we are committed to continuing to drive value for Boost users in future app updates, which we believe will continue to increase the value of Boost to our users and ultimately their willingness to pay for this premium product.”

Boost is now available within the MeetMe app for both Android and iPhone.

About MeetMe, Inc.

MeetMe® is the leading social network for meeting new people in the US and the public market leader for social discovery (NASDAQ: MEET). MeetMe makes it easy to discover new people to chat with on mobile devices. With approximately 80 percent of traffic coming from mobile and more than one million total daily active users, MeetMe is fast becoming the social gathering place for the mobile generation. The company is a leader in mobile monetization with a diverse revenue model comprising advertising, native advertising, virtual currency, and subscription. MeetMe apps are available on iPhone, iPad, and Android in multiple languages, including English, Spanish, Portuguese, French, Italian, German, Chinese (Traditional and Simplified), Russian, Japanese, Dutch, Turkish and Korean. For more information, please visit meetmecorp.com.

Cautionary Note Concerning 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 Boost will increase a user’s visibility on the MeetMe app or lead to more chats, the continued availability of other virtual currency products, the rate at which users will buy virtual currency products in the future, whether Boost users will continue to receive more chats than other users and if so at what rate, whether Boost will become our number one virtual currency product, whether we successfully provide future app updates that drive value for Boost users as expected, and whether those updates will increase the value of Boost to our users and ultimately their willingness to pay for Boost. 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,” “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, 2013 and the Prospectus Supplement (Rule 424(b)(5)) filed on July 24, 2014. 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.

Press:Fresh PRJeannine Jacobi, 323-903-7063jeannine@freshpr.netorInvestors:MKR Group Inc.Todd Kehrli, 323-468-2300meet@mkr-group.com

Meet (NASDAQ:MEET)
Historical Stock Chart
From Mar 2024 to Apr 2024