MeetMe

Canaccord Genuity is pleased to announce that MeetMe, Inc. (NASDAQ: MEET), a public market leader for social discovery, announced on June 27, 2016 that it has entered into a definitive agreement to acquire Skout, a leading global mobile network for meeting new people, for US$28.5 million in cash and approximately 5.37 million common shares of MeetMe, implying an enterprise value of US$54.6 million based on MeetMe’s closing stock price on June 24, 2016.

This acquisition promotes MeetMe and Skout’s shared vision to create the largest global service for meeting and chatting with new people. The acquisition is expected to provide greater scale for monetization and increased profitability for the combined company. It is expected to close in October 2016 and to be accretive to earnings and to generate additional free cash flow for MeetMe in the first twelve months following the closing and beyond. The Company expects to fund the cash portion of the acquisition primarily from MeetMe cash on hand and cash from operations, and potentially from other sources of financing available to MeetMe.

MeetMe is a leading social network for meeting new people in the US and the public market leader for social discovery. The company makes it easy to discover new people to chat with on mobile devices. With approximately 90 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.

Skout is a leading global, mobile network for meeting new people. The Skout community spans more than 100 countries and is available in 23 different languages. Skout is headquartered in San Francisco and is backed by well-regarded venture capital firm, Andreesen Horowitz.