NEW HOPE, Pa.--(BUSINESS WIRE)--
MeetMe, Inc. (NYSE MKT: MEET), the public market leader for social discovery, today announced it ranked No. 1 in the Internet category and No. 3 overall on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on five-year revenue growth. During that period, MeetMe grew its revenue 83,209%.
Geoff Cook, MeetMe’s Chief Executive Officer, said, “We are honored to be recognized as one of Deloitte’s Technology Fast 500™ for the third consecutive year, a significant accomplishment for the entire MeetMe team. We believe our proprietary technology allows us to deepen relationships and foster new connections, building highly engaged users. As we follow our audience onto mobile devices, we are monetizing users at industry-leading rates, which we believe will enable us to achieve sustainable growth.”
“The 2013 Deloitte Technology Fast 500 companies are exemplary cases of those spurring growth in a tough market through innovation,” said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader. “This year’s list is a who’s who of companies behind the most exciting and innovative products and services in the technology space. We congratulate the Fast 500 companies and look forward to what they do next.”
“The fastest growing companies in the US are drivers of constant innovation and operate with the agility to stay ahead of a quickly evolving marketplace, and software, biotech/pharma and internet companies continue to be at the forefront,” added James Atwell, national managing partner of the Emerging Growth Company practice, Deloitte Services LP. “The companies excelling in these sectors have a startup mentality that allows them to be nimble and adapt quickly, which is why they consistently lead the list of fast-growing companies each year.”
MeetMe previously ranked No. 32 as a Technology Fast 500™ award winner for 2012.
About MeetMe, Inc.
MeetMe® is the leading social network for meeting new people in the US and the public market leader for social discovery (NYSE MKT: MEET). MeetMe makes meeting new people fun through social games and apps, monetized by both advertising and virtual currency. With nearly 60 percent of traffic coming from mobile, MeetMe is fast becoming the social gathering place for the mobile generation. The company operates MeetMe.com and MeetMe apps on iPhone, iPad, and Android in multiple languages including English, Spanish, Portuguese, French, Italian, German, Chinese (traditional), Russian and Japanese.
About Deloitte’s 2013 Technology Fast 500™
Technology Fast 500, conducted by Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private - in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2008 to 2012.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
Cautionary Note Regarding 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 our ability to deepen relationships and foster new connections, build highly engaged users, follow our audience onto mobile devices, monetize users at industry-leading rates, spur growth through innovation, stay ahead of a quickly evolving marketplace, and achieve sustainable growth. All statements other than statements of historical facts contained herein, including statements regarding the continued growth in our core platform, are forward-looking statements. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “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 unanticipated events affect the launch of our new products, the effectiveness of our mobile software on smartphones and tablets, and the willingness of users to try new product offerings and of advertisers to place ads on our mobile apps. Further information on our risk factors is contained in our filings with the SEC, including the Form 10-K for the year ended December 31, 2012 and the Current Reports on Form 8-K filed with the SEC on May 1, 2013, October 1, 2013 and November 6, 2013. 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.
Regulation G – Non-GAAP Financial Measures
This release includes a discussion of Quepasa and myYearbook combined company revenues from continuing operations which is a non-GAAP financial measure. Reconciliation to the most directly comparable GAAP financial measure is provided on the Investor Relations section of the MeetMe corporate website at http://www.meetmecorp.com/investors/non-gaap/.
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