MeetMe

MeetMe operates within the social networking and online dating market, providing a portfolio of mobile applications designed to connect people. The company's journey began in 2005 when high school siblings Catherine and Dave Cook, along with their older brother Geoff Cook, launched myYearbook. Geoff, who had previously founded and sold successful ventures while at Harvard, provided the initial investment and served as CEO. The platform, originally conceived as a digital version of a high school yearbook, rapidly gained traction.

A significant milestone occurred in 2011 when myYearbook was acquired by Quepasa, a social network focused on the Latino market, for $100 million. The following year, the combined entity was rebranded as MeetMe, shifting its focus to the mobile market. This strategic pivot proved successful, fueling further growth. The company, which later became The Meet Group, embarked on a series of acquisitions to expand its portfolio and global footprint. Key acquisitions included Skout in 2016 for approximately $55 million, if(we) (owner of Tagged and hi5) for $60 million in 2017, and German dating app Lovoo for $70 million, also in 2017. In 2020, The Meet Group itself was acquired for about $500 million by a joint venture of ProSiebenSat.1 Media and General Atlantic, leading to the formation of ParshipMeet Group.

The business operates on a freemium model, serving individuals seeking social connections. Core features on its apps—which include MeetMe, Skout, Tagged, hi5, and others—are free to use. Revenue is generated through three primary streams: advertising, paid subscriptions for premium features, and in-app purchases of virtual currency. A pivotal development for the company was the introduction of livestreaming video in 2017. This feature allows users to broadcast themselves, watch others, and interact in real-time. It has become a major revenue driver, primarily through the sale of virtual gifts that viewers can send to creators, who in turn can earn real money. This livestreaming technology, now branded as Livebox, is also offered as a service to other social apps, creating an additional B2B revenue channel.

Keywords: social discovery, online dating, mobile apps, livestreaming, freemium, virtual currency, in-app purchases, social networking, creator economy, myYearbook, The Meet Group, ParshipMeet Group, Geoff Cook, Catherine Cook, David Cook, Skout, Tagged, Lovoo, hi5, user engagement, video platform as a service