PHILADELPHIA BUSINESS JOURNAL – Mar 21 – The Meet Group has built its portfolio of five dating apps through acquisitions, with the $11.8M deal to buy niche gay dating app Growlr being the most recent. Historically, the company has looked for apps that either expand into a segment of users it hasn't reached before or a new geographic area, like Growlr with the gay community and Lovoo with its European foothold. Integrating video has been a top priority. They like to see a lot of one-to-one chat messages and relatively high DAU. Meet's new video revenue stems from in-app purchases users make to buy and give "gifts" like a virtual race car, and when a popular livestreamer acquires the equivalent of ~$200 worth, they can redeem for cash. Apple and Google get a 30% cut of revenue stemming from in-app purchases, the livestreamer gets 35% and Meet pockets the other 35%. Cook expects video revenue to double in 2019 and double again by 2021.
by Michelle Caffrey
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