NEW HOPE, Pa.–(BUSINESS WIRE)–
MeetMe, Inc. (NASDAQ: MEET), a public market leader in the mobile
meeting space, has completed its acquisition of Ifwe Inc., a social and
mobile technology company.

MeetMe expects the acquisition to strengthen its ability to create
shareholder value by expanding its global portfolio of branded meeting
apps for meeting new people. The if(we) acquisition is expected to
contribute $9 million of adjusted EBITDA in the first 12 months
post-close and to provide the combined company with a path forward for
generating $150 million in annualized revenue and $50 million of
adjusted EBITDA.

To better encapsulate the company’s mission to innovate, acquire, and
build the largest mobile portfolio of brands for meeting new people,
MeetMe, Inc. has also changed its name to The Meet Group, Inc.,
effective today. Moving forward, The Meet Group will be the parent
company of the MeetMe, Skout, Tagged, and Hi5 brands, as well as the
vehicle with which the company intends to pursue future acquisitions.

“We are excited to close the acquisition of if(we) and welcome our new
team members and brands to The Meet Group. Our growing portfolio unites
all of our brands with a singular purpose: to meet the universal need
for human connection,” said Geoff Cook, CEO of The Meet Group. “We are
no longer MeetMe, Inc. running a single app, but a global portfolio of
mobile meeting apps that spans ten million monthly active users. As The
Meet Group continues to add brands to its global portfolio that can
leverage our cutting-edge technology for bringing the right people
together and meeting their need for connection, we believe we will build
a solid foundation for long-term growth and shareholder value creation.”

“The Meet Group is larger than dating,” Cook continued. “Our users come
to meet, chat, and hang out. Our communication model is open, and we
believe our revenue model is optimized to retain users longer, not chase
them away with paywalls. We believe the new umbrella brand will better
position the company to consolidate the fragmented mobile meeting
industry into an efficiently run portfolio.”

In connection with closing of the if(we) acquisition, The Meet Group
granted options to purchase an aggregate of up to 75,000 shares of its
common stock and restricted stock awards representing an aggregate of
717,500 shares of common stock to 83 former if(we) employees as an
inducement material to their employment. Each option has a ten-year
term, a three-year vesting period and an exercise price of $5.74 per
share, the closing price per share of the company’s common stock on the
grant date. Each restricted stock award vests one-third each year during
a three-year vesting period. Vesting on both 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).

AboutThe Meet Group

The Meet Group (NASDAQ: MEET) is a fast-growing portfolio of mobile apps
designed to meet the universal need for human connection. Using
innovative products and sophisticated data science, The Meet Group keeps
its approximately 2.8 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 with hundreds of millions of daily mobile ad
impressions. The Meet Group utilizes high user density, economies of
scale, and leading monetization strategies with the goal of maximizing
adjusted EBITDA. Our apps – currently MeetMe®, 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. For more
information, please visit http://www.themeetgroup.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 whether the (if)we acquisition will strengthen our
ability to create shareholder value from expanding our global portfolio
of branded meeting apps for meeting new people, whether the if(we)
acquisition will contribute $9 million of adjusted EBITDA in the first
12 months post-close and provide the combined company a path to $150
million in annualized revenue and $50 million of adjusted EBITDA,
whether The Meet Group brand will better encapsulate our mission to
innovate, acquire, and build the largest mobile portfolio of brands for
meeting new people, whether we will pursue future acquisitions as
intended and The Meet Group will be the vehicle therefor, whether all
brands under The Meet Group will leverage cutting-edge technology to
bring the right people together to meet their need for connection,
whether we will build a solid foundation for long-term growth and
shareholder value creation, whether our revenue model is optimized to
retain users longer and not chase them away with paywalls, whether the
new umbrella brand will better position the company to consolidate the
fragmented mobile meeting industry into an efficiently run portfolio.
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 the
proposed acquisition and future events and financial trends that we
believe may affect our financial condition, results of operations,
business strategy and financial needs. Further information on our risk
factors is contained in our filings with the Securities and Exchange
Commission, including the Form 10-K for the year ended December 31,
2016, the Form 8-K as filed on March 6, 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/20170403006525/en/

MEET Investor Contact:
MKR Group Inc.
Todd Kehrli
meet@mkr-group.com

Source: The Meet Group