MeetMe Announces Q3 Predictions As It Closes Acquisition Deal With Skout

meetme skout

MeetMe has just released its predictions for Q3, as it closes the Skout acquisition deal.

The social network operator recently secured a deal with dating app provider Skout for the sum of $54.6m, which saw MeetMe depart with $28.5m in cash and the remaining cost coming in the form of stock.

And following the buy out, MeetMe is now offering Skout’s 25 employees the chance to join the company as non-executive employees through a stock option plan.

As it stands, Skout is expected to bring in around $6.6m in Q3, and although it took $28.5m in revenue last year, the company is only expected to get $26m by the end of 2016.

However, the company is said to be adding an average of 42,000 registered users each day – very impressive figures for the San Francisco-based company.

As for its own predictions, MeetMe is expected to increase its user base by 69% to 8.5m, which is up from 5m at the end of May this year.

The company also expects a very impressive revenue boost, now sitting between $73.5m and $75.5m as opposed to $70.5m to $73.5m as predicted earlier this year.

And for the next quarter, revenues are expected to sit within the bracket of $17m – $17.5m for the company.

That said, MeetMe’s stocks are expected to drop, with stocks having lost over 8% of their value this week.

The company will to release its full Q3 results in November.

Emma Woodley

Emma is a reporter at Global Dating Insights. Originally from Surrey, she has studied Communication and Media at Bournemouth University and The University of Central Florida. She enjoys socialising with friends, exploring new places and can often be found with her nose in a book.

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