PODCAST BUSINESS JOURNAL – June 6 – The Meet Group, a portfolio of apps with 15M monthly users and owner of Podcoin, a mobile app that rewards users for listening to podcasts, is partnering with health and fitness app Sweatcoin, an app that rewards users with virtual currency for walking and running, in a crowdfunding campaign benefiting Alex's Lemonade Stand Foundation. Alex's Lemonade Stand Foundation is a national childhood cancer foundation dedicated to helping children with the disease through funding impactful research, raising awareness, supporting families, and empowering everyone to help cure childhood cancer. Podcoin will donate $10K to ALSF at the conclusion of the campaign. As part of the campaign, Sweatcoin users who join Podcoin will receive 300 Podcoin to help them get started on the app.
Category: The Meet Group
The Meet Group Reports Q1 Financial Results – Revenue Up 32%
BUSINESS WIRE – May 8 – Q1 revenue is $49.5M, up 32% YOY. Net income is $7M, up from $4.1M in Q1 2018. "Our strong progress in video continued in the first quarter," said CEO Geoff Cook. "We grew video revenue to ~$20M, a more than four-fold increase from the year ago quarter." Average video revenue per daily active video user increased to 26c, up from 18c in the Q4 of 2018, while ~20% of users engaged in video every day.
The Meet Group’s Podcoin Pays Users to Listen to Podcasts
by Hayden Field
See full article at Entrepreneur
Geoffrey Cook Likes to Add Video to the Online Dating Mix
TWST.COM – Apr 19 – Geoffrey Cook has been CEO of The Meet Group since March 11, 2013. He co-founded myYearbook, where he served as CEO from 2005 until the merger in 2011. During his tenure at myYearbook, Mr. Cook grew myYearbook to profitability and ~$30M revenue with 100 employees. He previously founded EssayEdge and ResumeEdge while a student at Harvard University in 1997 and sold them to The Thomson Corporation in 2002. In an interview with the Wall Street Transcript, Cook reveals all of the strategy of this young compay. "To grow video DAU, we're working on things like one-on-one chat. We're going to be putting nearby videos in front of them, and if they do find somebody to chat with, we're going to make it very easy to start a video chat with them."
The Meet Group: Momo of the West
by Lauren Hallanan
See full article at Medium.com
Asian Internet Dating and Matchmaking Conferences
OPW – Apr 18 – Want to get your head around Asia? There's a couple conferences we'd like to put on your radar. But best book soon, as they're coming up fast. They're in Singapore at the amazing Marina Sands Hotel. I'm speaking at both of them.
The 1st is the GDI Singapore Dating Conference on May 13-14th, and is 250 GBP. Leaders from Paktor, Pairs, The Meet Group, Matrimony and Spark Networks will be speaking.
The 2nd is the Global Love Conference on May 15-16th, is $295, and will be more matchmaking focused. Leaders from Viola.ai / Lunch Actually, 2 Red Beans, Paktor, and the Matchmaking Institute will be speaking. (Here's a feel good $50 discount code 50OFFSG)
I hope to see you there. – Mark Brooks
Why The Meet Group Has Strong Growth Potential
GURU FOCUS – Apr 5 – Even though the The Meet Group's stock price has surged 170% higher in the last year, further growth could be ahead. The company is focused on improving user experience through the introduction of innovative new products that may improve its monetization potential. It is also expected to expand into new territories and niches, while further acquisitions could enhance its overall performance. The launch of Battles could drive monetization, as well as attract new users and enhance the user experience. Battles bring together two live streamers in a competition, with users being able to give gifts to support their favorite streamer. The streamer with the most votes is named the winner. Battles were recently launched on the company's Meet Me, Skout and Tagged. The Meet Group is also set to launch a new product called Levels. This adds a gamification element to live streaming through establishing aspirational ranks for users to achieve, as well as exclusive benefits for them to unlock.
by Robert Stephens
See full article at Guru Focus
U.S. Orders Chinese Firm to Sell Dating App Grindr Over Blackmail Risk
WALL STREET JOURNAL – Mar 27 – U.S. national-security officials have ordered a Chinese company to sell gay-dating app Grindr, citing the risk that the personal data it collects could be exploited by Beijing to blackmail individuals with security clearances, according to people familiar with the situation. Beijing Kunlun Tech Co. Ltd., which acquired a majority stake in Grindr in 2016, would have no choice but to share information on Grindr users if demanded by the Chinese government, U.S. officials believe. That triggered the recent order from the Committee on Foreign Investment in the U.S., known as Cfius. National-security experts said a Chinese company would never be allowed to buy a company like Facebook Inc., for example.
"If Cfius only applies to companies China acquires from the U.S., and not companies China builds, what can it possibly solve?" said Geoffrey Cook, CEO of The Meet Group.
Potential buyers for Grindr could include Match. Mark Brooks, a consultant in the dating industry, said Spark Networks and The Meet Group could be among other potential contenders.
by Georgia Wells & Kate O'Keeffe
See full article at Wall Street Journal
The Meet Group CEO: Livestream ‘Talent’ to Double Dating App ‘Gift’ Sales
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
See full article at Philadelphia Business Journal
Mobile Growth Summit: Catherine Cook Connelly, Co-Founder & VP Brand Strategy, The Meet Group
OPW – Mar 21 – The Meet Group grew its live-streaming product – Live – to a $48M business in less than a year. Live, which monetizes through in-app purchases, is one of the most engaging features the company ever launched. Users spend ~25M minutes in Live each day. In her presentation, Catherine Cook Connelly talks about how they built Live, why it monetizes so well, and how it enables meaningful connections for their users on MeetMe, Skout, Tagged, and LOVOO.