MeetMe, Inc. (NYSE MKT: MEET), the public market leader in social
discovery, today announced it ranked 32 on Deloitte's Technology
Fast 500™, a ranking of the 500 fastest growing technology, media,
telecommunications, life sciences and clean technology companies in
North America. Rankings are based on five-year revenue growth. In
that period, MeetMe, Inc. has grown its revenue 5300%.
"The November 2011 merger of Quepasa and myYearbook represented
a key milestone for both organizations and its significance is
reflected by our 2011 combined revenues," said John Abbott, CEO,
MeetMe, Inc. "In the time since, we rebranded to MeetMe and
completed the migration of the Quepasa user base to MeetMe, the
final milestone of a yearlong integration effort which also
included the consolidation of our operations in New Hope,
Pennsylvania."
"We are pleased to be acknowledged for the second year in a row
by Deloitte with regard to our revenue growth. We have seen
tremendous growth over the last few years and believe
internationalization presents an even larger opportunity to build a
global, mass market brand," said Geoff Cook, COO MeetMe, Inc. and
co-founder, myYearbook. "In June MeetMe was available in one
language, English. In September it was available in three
languages, with the addition of Spanish and Portuguese. By April of
next year, we intend to be available in 13 languages, dramatically
expanding the addressable market for our service to Europe, Asia,
and the Middle East."
"We are proud to honor the 2012 Technology Fast 500™ companies,
and commend them for their outstanding growth," said Eric Openshaw,
vice chairman, Deloitte LLP and U.S. technology, media and
telecommunications (TMT) leader. "These ground-breaking companies
have outpaced their competition and are reinventing the way we do
business today."
"The companies on the Fast 500 list are among those that have
demonstrated remarkable innovation, creativity and business savvy,"
said Bill Ribaudo, partner, Deloitte & Touche LLP and national
TMT leader for audit and enterprise risk services (AERS). "As a
result, these companies have continued to successfully forge ahead
in a challenging economic environment. We applaud the leadership
and employees of MeetMe, Inc. for this impressive
accomplishment."
MeetMe, formerly known as myYearbook, previously ranked 26th as
a Technology Fast 500™ award winner for 2011.
Overall, 2012 Technology Fast 500™ companies achieved revenue
growth ranging from 128 percent to 279,684 percent from 2007 to
2011, with an average growth of 2,774 percent.
About Deloitte's 2012 Technology Fast 500™
Technology Fast 500, conducted by Deloitte & Touche LLP,
provides a ranking of the fastest growing technology, media,
telecommunications, life sciences and clean technology companies --
both public and private -- in North America. Technology Fast 500
award winners are selected based on percentage fiscal year revenue
growth from 2007 to 2011.
In order to be eligible for Technology Fast 500 recognition,
companies must own proprietary intellectual property or technology
that is sold to customers in products that contribute to a majority
of the company's operating revenues. Companies must have base-year
operating revenues of at least $50,000 USD or CD, and current-year
operating revenues of at least $5 million USD or CD. Additionally,
companies must be in business for a minimum of five years, and be
headquartered within North America.
About MeetMe, Inc. MeetMe® is the leading
social network for meeting new people in the US and the public
market leader for social discovery (NYSE MKT: MEET). MeetMe makes
meeting new people fun through social games and apps, monetized by
both advertising and virtual currency. With 60% of traffic coming
from mobile, MeetMe is fast becoming the social gathering place for
the mobile generation. The company operates MeetMe.com and MeetMe
apps on iPhone, iPad, and Android in English, Spanish and
Portuguese.
Cautionary Note Regarding 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 revenue growth, expanding to 13 languages by April of
next year and international opportunities. All statements other
than statements of historical facts contained herein, including
statements regarding the continued growth in our core platform, are
forward-looking statements. The words "believe," "may," "estimate,"
"continue," "anticipate," "intend," "should," "plan," "could,"
"target," "potential," "is likely," "will," "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 unanticipated events affect the
internationalization of our mobile products, the acceptance of our
new brand internationally, issues that affect the functionality of
our mobile application with popular mobile operating systems, any
changes in such operating systems that degrade our mobile
application's functionality and other unexpected issues which could
adversely affect usage on mobile devices, the effectiveness of our
mobile software on smartphones and tablets, the willingness of our
users to purchase virtual credits on their mobile devices, the
willingness of users to try new product offerings and the
willingness of Quepasa.com users to change to the MeetMe.com brand.
Further information on our risk factors is contained in our filings
with the SEC, including the Form 10-K for the year ended December
31, 2011. 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.
Contact: Robin Shallow EVP Communications & Public
Relations MeetMe, Inc. (215) 862-7823 robin@meetme.com Follow us on
Twitter @meetme Investor Contact: E. Brian Harvey Vice
President of Capital Markets and Investor Relations MeetMe, Inc.
(215) 862-1162 x266 brian@meetme.com Follow our business news on
Twitter @meetmecorp