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Meet Group, Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2020 10-Q, filed Aug 7, 2020. Its latest SEC filing is a SC 13G/A from Feb 22, 2021.

The sections below describe the company as of the FY2019 annual report.

What Did They Do?

Runs social and dating apps that help people meet and chat, with live video for app users and advertising services for marketers.

How Did They Make Money?

Users buy virtual credits for gifts and purchase subscriptions or other in-app products, with subscription and in-app purchase payments received in advance. Marketers also pay to display ads in the apps.

FY2019 revenue

Who Were Their Customers?

Users use the apps to meet people, socialize, date and chat; advertisers reach those users through advertising aggregators and payment processors that represent thousands of advertisers.

Did Revenues Turn Into Profits?

Yes. It kept 5 cents of every revenue dollar as net income in FY2019 and turned 17 cents into free cash flow.

Operating income, FY2019
8% of revenue
▲ +352% vs FY2018 ($3.9M, 2%)
Net income, FY2019
5% of revenue
▲ +892% vs FY2018 ($1.1M, 1%)
Free cash flow, FY2019
17% of revenue
▲ +38% vs FY2018 ($26.1M, 15%)

How Were They Changing?

Since the FY2019 annual report
Latest quarter: Q2 FY2020, the three months to Jun 30, 2020
Revenue
▲ +74%
vs $52M in Q2 FY2019
Net income
▲ +371%
vs $2.2M in Q2 FY2019
  • Sep 4, 2020 Parship Group’s parent completed its acquisition of The Meet Group The merger converted shares into cash consideration, and the company requested removal of its common stock from Nasdaq.
  • Jun 29, 2020 Meet Group agreed to provide livestreaming services to PlentyOfFish The agreement covers livestreaming video and related functionality for an initial term of three years.

Grew. Revenue grew 3.7x in 4 years, from $56.9M in FY2015 to $211.7M in FY2019, about 39% a year.

Live video The older report centers its app story on social discovery, profiles and chat. The latest report adds live video as a core way users connect, with broadcasters and viewers exchanging virtual gifts.

Revenue model The older report described a free, ad-supported model with in-app purchases and subscriptions; the latest describes user purchases and subscriptions as the main revenue source, alongside advertising.

Who Did They Compete With?

Competes with Badoo, Twoo, Meetup, Zoosk, Match, Happn, PlentyOfFish, OkCupid, Tinder, live.me, TikTok, Azar, Younow, Bigo, Twitch, Periscope, Facebook, Twitter, and LinkedIn

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