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MarketScreener Homepage  >  Equities  >  Nasdaq  >  The Meet Group, Inc.    MEET

THE MEET GROUP, INC.

(MEET)
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Exclusive: ProSieben's NuCom looks at Meet Group acquisition - sources

12/17/2019 | 03:41am EST

German broadcaster ProSiebenSat.1 Media SE e-commerce arm NuCom Group is exploring the acquisition of U.S. live streaming app developer Meet Group Inc, people familiar with the matter said.

NuCom, whose holdings include online dating website eharmony, has made a preliminary expression of interest to buy Meet Group, the sources said, but they also said there was no certainty there would be negotiations that lead to a deal.

The sources requested anonymity because the matter is confidential. Meet Group and ProSieben declined to comment.

Meet Group shares rose as much 21% on the news and closed on Monday 5.3% higher at $5.33, giving the company a market value of $382 million.

ProSieben shares were down 2.2% at 0829 GMT on Tuesday, making them the biggest percentage faller on Germany's midcap benchmark MDAX, which was barely changed.

Based in New Hope, Pennsylvania, Meet Group is a maker of internet-based apps that enable live streaming broadcasts and text-based conversations, including MeetMe, LOVOO, Skout, Tagged and Growlr.

Meet Group has struggled to challenge the dominant U.S. dating app developer, Match Group Inc. It is focusing on expanding its live-streaming platforms, modeled after the video products offered by Asian dating app providers.

ProSieben has looked to NuCom to diversify its legacy free-to-air TV business and expand its internet and social media portfolio. NuCom spans dating site Parship, energy price comparison portal Verivox and Jochen Schweizer, which sells vouchers for "experiences" like tandem parachute jumps.

"We believe the interest in Meet Group likely involves implementing Meet Group's live streaming platforms across NuCom's various dating sites, as well as potential user overlaps in Europe and Germany," Roth Capital Partners LLC wrote in a research note.

Last year, investment firm General Atlantic acquired a 25.1% stake in NuCom from ProSieben at a 1.8 billion euro ($2 billion) valuation. It increased its stake slightly in 2019.

(Reporting by Greg Roumeliotis in New York; Editing by Chris Reese/Matthew Lewis/Jane Merriman)

By Greg Roumeliotis


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. -0.98% 23.155 Delayed Quote.51.49%
HOPE, INC. 2.31% 3100 End-of-day quote.-31.03%
LETS HOLDINGS GROUP CO., LTD. 1.58% 7.72 End-of-day quote.-0.77%
LOOK HOLDINGS INCORPORATED -1.07% 921 End-of-day quote.-3.76%
MATCH GROUP, INC. 1.69% 151.53 Delayed Quote.-1.42%
MDAX -1.70% 31035.92 Delayed Quote.2.52%
PROSIEBENSAT.1 MEDIA SE -0.85% 13.39 Delayed Quote.-1.82%
THE LEAD CO., INC. 1.69% 842 End-of-day quote.0.24%
THE MEET GROUP, INC. -0.16% 6.29 End-of-day quote.25.55%
All news about THE MEET GROUP, INC.
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2020MEET GROUP, INC. : Results of Operations and Financial Condition, Regulation FD ..
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2020MEET : Reports Second Quarter 2020 Financial Results
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2020MEET : Announces Date of Earnings Release for Second Quarter 2020 Financial Resu..
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2020MEET : Launches DateNight to Dating Apps MeetMe and Skout
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2020MEET : Announces Safer Dating Advisory Board
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More news
Financials (USD)
Sales 2019 212 M - -
Net income 2019 11,3 M - -
Net Debt 2019 13,8 M - -
P/E ratio 2019 33,4x
Yield 2019 -
Capitalization 458 M 458 M -
EV / Sales 2018 1,96x
EV / Sales 2019 1,76x
Nbr of Employees 330
Free-Float 92,7%
Chart THE MEET GROUP, INC.
Duration : Period :
The Meet Group, Inc. Technical Analysis Chart | MEET | US58513U1016 | MarketScreener
Income Statement Evolution
Managers and Directors
NameTitle
Geoffrey Cook Chief Executive Officer & Director
Tim Schiffers President, Director & Managing Director
James E. Bugden Chief Financial Officer
Richard Friedman Senior Vice President-Engineering
Henning Rönneberg Secretary, Director & Managing Director
Sector and Competitors
1st jan.Capitalization (M$)
THE MEET GROUP, INC.25.55%458
FACEBOOK INC-10.07%699 655
MATCH GROUP, INC.-1.42%39 645
TWITTER-15.44%36 327
LINE CORPORATION0.00%12 532
SINA CORPORATION-1.20%2 501