NEW HOPE, Pa.–(BUSINESS WIRE)–
MeetMe, Inc. (NASDAQ: MEET), the public market leader for social
discovery, today announced that its board of directors has authorized a
$1 million share repurchase program relating to its common stock. Shares
may be repurchased in the open market or through negotiated
transactions. The amount and timing of specific transactions are subject
to market conditions, applicable legal requirements and other factors
and may be suspended or discontinued at any time. The authorization does
not have a specified expiration date, but the company anticipates
completing the repurchases in the next six months. Share repurchases
will be funded with cash from operations.

“In 2014 we increased our adjusted EBITDA by 177 percent versus the
prior year, and our adjusted EBITDA for the first six months of this
year exceeded all of 2014 by approximately $1 million,” said David
Clark, MeetMe’s Chief Financial Officer. “Given our strong financial
performance, we believe now is an appropriate time to begin leveraging
our cash position to return value to our existing shareholders.”

About MeetMe, Inc.

MeetMe® is the leading social network for meeting new people in the US
and the public market leader for social discovery (NASDAQ: MEET). MeetMe
makes it easy to discover new people to chat with on mobile devices.
With approximately 80 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.

Cautionary Note Concerning 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, and whether adjusted EBITDA will increase in the future.
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, 2014, and the Current Report on Form 8-K filed on June 3,
2015. 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/20150929005601/en/

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

Source: MeetMe, Inc.