ShareCompany Announces Third Quarter 2017 Earnings Conference Call
NEW HOPE, Pa.–(BUSINESS WIRE)–
The Meet Group, Inc. (NASDAQ: MEET), a public market leader in the
mobile meeting space, has completed its acquisition of Lovoo GmbH. The
LOVOO app is the most downloaded dating app in Germany, Switzerland, and
Austria combined.
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The Meet Group anticipates this purchase will continue the momentum of
its mission to meet the universal need for human connection through
innovating, acquiring, and building the largest mobile portfolio of
brands for meeting new people.
The acquisition is expected to expand The Meet Group’s global footprint,
increase the company’s scale and profitability, and diversify its
business model by adding expertise in subscription and in-app purchasing.
“LOVOO is our third strategic acquisition in the last 12 months, and
we’re looking forward to advancing our combined company’s growth,” said
Geoff Cook, CEO of The Meet Group. “We plan to continue to focus on
innovating products that increase engagement across our entire portfolio
of brands, including livestreaming video and in-app gifting. LOVOO’s
sizable European audience and subscription focus give us greater revenue
and geographic diversification, and we’re excited to add them to the
portfolio.”
In connection with the closing of the acquisition, The Meet Group
granted restricted stock awards representing an aggregate of 534,500
shares of common stock to 97 Lovoo employees as an inducement material
to their employment. Each restricted stock award vests one-third each
year during a three-year vesting period. Vesting is subject to continued
employment. The grants were approved by the company’s Board of
Directors, including a majority of its independent directors, and were
made in accordance with NASDAQ Listing Rule 5635(c)(4).
Earnings Conference Call and Audio Webcast Notification
The Meet Group will host a conference call on Wednesday, November 1,
2017 at 8:30 a.m. ET to discuss details and answer questions about the
company’s financial results for the third quarter ended September 30,
2017.
The Meet Group’s financial results will be issued in a press release
before the market open on November 1 and prior to the call, which will
be hosted by The Meet Group’s Chief Executive Officer, Geoff Cook, and
Chief Financial Officer, David Clark.
| What: | The Meet Group third quarter 2017 financial results conference call | ||
| When: | Wednesday, November 1, at 8:30 a.m. Eastern Time (5:30 a.m. PT) | ||
| Dial In Number: | 800-441-0022 (US and Canada) | ||
| 719-457-2627 (International) | |||
| Participant passcode: 9957559 | |||
| Webcast: |
To access the live and replay webcast, please visit the investor |
||
| Call Replay: |
A phone replay of the call will be available approximately two |
||
About The Meet Group
The Meet Group (NASDAQ: MEET) is a fast-growing portfolio of mobile apps
designed to meet the universal need for human connection. Our apps –
currently MeetMe®, LOVOO®, Skout®, Tagged®, and Hi5® – let users in more
than 100 countries chat, share photos, stream live video, and discuss
topics of interest, and are available on iPhone, iPad, and Android in
multiple languages. Using innovative products and sophisticated data
science, The Meet Group keeps its over 4.5 million mobile daily active
users engaged and originates untold numbers of casual chats,
friendships, dates, and marriages. The Meet Group offers advertisers the
opportunity to reach customers on a global scale and has leading mobile
monetization strategies, including advertising, in-app purchases, and
subscription products. The Meet Group has offices in New Hope, San
Francisco, Dresden, and Berlin. For more information, visit themeetgroup.com,
and follow us on Facebook,
Twitter or LinkedIn.
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 whether the acquisition of LOVOO will continue the
momentum of our mission to meet the universal need for human connection
through innovating, acquiring, and building the largest mobile portfolio
of brands for meeting new people, whether the acquisition will expand
our global footprint, increase our scale and profitability, and
diversify our business model by adding expertise in subscription and
in-app purchasing, whether the acquisition will advance our combined
company’s growth, whether we will continue to focus on innovating
products that increase engagement across our entire portfolio of brands,
including livestreaming video and in-app gifting, and whether LOVOO’s
sizable European audience and subscription focus will give us greater
revenue and geographic diversification. All statements other than
statements of historical facts contained herein are forward-looking
statements. The words “believe,” “may,” “estimate,” “continue,”
“anticipate,” “intend,” “should,” “plan,” “could,” “target,”
“potential,” “project,” “is likely,” “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 our applications will
not function easily or otherwise as anticipated, the risk that we will
not launch additional features and upgrades as anticipated, the risk
that unanticipated events affect the functionality of our applications
with popular mobile operating systems, any changes in such operating
systems that degrade our mobile applications’ functionality and other
unexpected issues which could adversely affect usage on mobile devices.
Further information on our risk factors is contained in our filings with
the Securities and Exchange Commission (“SEC”), including the Form 10-K
for the year ended December 31, 2016 filed with the SEC on March 9,
2017, our Quarterly Report on Form 10-Q for the quarter ended March 31,
2017 filed with the SEC on May 10, 2017, and the Form 8-K filed with the
SEC on September 20, 2017. 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171019006572/en/
The Meet Group, Inc.
Brandyn Bissinger, 267-446-7010
bbissinger@themeetgroup.com
or
Investor
Contact:
The Blueshirt Group
Allise Furlani or Brinlea
Johnson
212-331-8433
IR@Themeetgroup.com
Source: The Meet Group, Inc.