MARKETWIRE – Aug 9 – MeetMe, the social discovery service, reported its financial results for Q2 2012. MeetMe revenue was $13.1M, up 706% YOY. Mobile revenue grew 73% sequentially to $1.3M, and 152% versus the same period a year ago. On June 5 the company announced the rebrand of myYearbook to MeetMe and the name change of the company from Quepasa Corporation to MeetMe.
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PRESS RELEASE – Aug 9 – Men’s Health, the largest men’s magazine in the world, and Women’s Health, which reaches 13M consumers monthly, have partnered with social network MeetMe, the social network to meet new people and 18th most trafficked site in the US, to conduct “The Definitive Survey on the State of Friendship in America.” The survey reflects all aspects of friendship – from how we stay in touch to how many close friends we have, to why friends sometimes “break up.” 72% of men and 84% of women report having a “best” friend. 58% of men and 69% of women have “friended” a person of the opposite sex online just because she or he was hot. 57% of men and 66% of women are still friends with a former girlfriend or boyfriend. 62% of men and 53% of women have had post-breakup sex.
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PR NEWSWIRE – Aug 6 – SNAP Interactive quarterly revenue increased 8% to $5.2M compared to $4.8M for the comparable period in 2011. Net loss for the quarter was $1.2M. "We successfully launched the redesigned AreYouInterested.com product to all new users by the quarter's end without burning a meaningful amount of cash", said SNAP's CEO, Clifford Lerner. "We are pivoting from a focus on pure dating to social discovery. Social discovery is about discovering people and content based on common interests. Common interests are an incredibly powerful way to connect people and engage users with highly targeted content including commerce, events, music and videos."
The full article was originally published at MarketWatch, but is no longer available.
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SEEKING ALPHA – Aug 3 – MeetMe, the company formally known as Quepasa, has fallen under the radar of investors during the past year. Quepasa served primarily as a social media site for the Latin and Spanish speaking community. The launch of Facebook's Spanish platform completely thwarted Quepasa's initial potential to grow. During the Q1 '12, MeetMe earned record revenue of $10.8M. However, this was quickly eaten away during the same quarter, resulting in a Q1 loss per share of -$0.05. They spent 270% more on product development and content (their biggest operating expense of over $6M), 400% more on sales and marketing and 130% more on general and administrative costs. Their total operating costs and expenses totaled $12.4M for 2012 whereas in 2011, this number was $3.6M. Because of some recent developments within the past two quarters a turnaround is inevitable. MyYearbook (acquired by Quepasa during 2011) launched its first app for the iPad and has reported a total of over 500K daily page views. On February, the company launched the offering of mobile virtual currency. This is a huge factor because ~60% of total page views come from MeetMe's mobile users. In their 10-Q filing with the SEC for quarter one results, MeetMe mentioned that 33% of earned revenue came from sales of their virtual currency, both mobile and web-based, for a total of approximately $3.6M.
by Kyle Walker
See full article at Seeking Alpha
Mark Brooks: Courtland Brooks is now working with Meetme.
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OPW – Aug 1 – There are only 2 days left to register for the Social Discovery Conference using our special link, and save ~50% ($445) off the registration at the door. The conference is taking place next week, on Aug 6-7 in San Francisco at the Merchants Exchange Building. Speakers include: Steve Sarner (Tagged), Cody Simms (StumbleUpon), Geoff Cook (MeetMe), Brian Bowman (theComplete.me), Drew Dillon (Yammer), Louise Thompson (Badoo), Larry Magid (CBC News) and others.
MARKETWIRE – July 24 – MeetMe, the public market leader for social discovery, will present at the SocialDiscovery.org conference on August 6-7, 2012 in San Francisco. Geoff Cook, COO and President will cover people discovery and the opportunity to build a mass market brand for meeting new people by engineering serendipity. Social discovery has emerged as the latest trend in social media and social networking, as users join networks to find people, places and things based on their specific interests.
The full article was originally published at MarketWatch, but is no longer available.