NEW HOPE, Pa.–(BUSINESS WIRE)–
MeetMe, Inc. (NASDAQ: MEET), a public market leader for social
discovery, announced today that its board of directors has approved a
one year share repurchase program that enables the company to purchase
up to $15 million of its shares of common stock from time to time in the
open market or through negotiated transactions. Share purchases will be
funded from cash from operations.

“With significant free cash flow being generated through our successful
business model, we believe our stock is undervalued and the repurchase
of our shares is an efficient use of our excess capital and will enhance
shareholder value,” said Geoff Cook, Chief Executive Officer of MeetMe.
“We believe the share repurchase program is supported by our growing
scale and increased profitability. The strength of our balance sheet
gives us the confidence and flexibility to execute this program and the
Skout, Inc. acquisition for the benefit of our shareholders.”

Repurchases under MeetMe’s program will be made in the open market or
through privately negotiated transactions intended to comply with the
Securities and Exchange Commission Rule 10b-18, subject to market
conditions, applicable legal requirements, and other relevant factors.
The share repurchase program does not obligate the Company to acquire
any particular amount of common stock, and it may be suspended at any
time at the Company’s discretion. MeetMe had approximately 54.4 million
shares of common stock outstanding as of August 31, 2016.

About MeetMe, Inc.

MeetMe® is a leading social network for meeting new people in the US and
a public market leader for social discovery (NASDAQ: MEET). MeetMe makes
it easy to discover new people to chat with on mobile devices. With
approximately 90 percent of traffic coming from mobile and more than one
million total daily active users, MeetMe is fast becoming the social
gathering place for the mobile generation. MeetMe is a leader in mobile
monetization with a diverse revenue model comprising advertising, native
advertising, virtual currency, and subscription. MeetMe apps are
available on iPhone, iPad, and Android in multiple languages, including
English, Spanish, Portuguese, French, Italian, German, Chinese
(Traditional and Simplified), Russian, Japanese, Dutch, Turkish and
Korean. For more information, please visit meetmecorp.com.

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 statements regarding the anticipated amount and timing
of share repurchases, whether any such repurchases will occur, whether
shares will be repurchased in the open market or through negotiated
transactions, whether we will continue to generate significant free cash
flow, whether our business model will continue to be successful, whether
the repurchase of shares will be an efficient use of capital and enhance
shareholder value, whether the share repurchase program will continue to
be supported by our growing scale and increased profitability, whether
the strength of our balance sheet will give us flexibility to execute
the share repurchase program and the Skout, Inc. acquisition, and
whether repurchases will comply with Securities and Exchange Commission
Rule 10b-18. 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, 2015 and the Form 10-Q for the quarter ended June 30, 2016.
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/20160906005148/en/

Investor Contact:
MKR Group Inc.
Todd Kehrli or Jim
Byers
(323) 468-2300
meet@mkr-group.com

Source: MeetMe, Inc.