Boston, MA 06/26/2013 (wallstreetpr) – MeetMe (NYSE:MEET) is the leading social network which helps the people of US to meet new people through such networking. It helps bringing in people to meet each other via online social games and applications.
MeetMe has a mobile application which brings in around 60% of the traffic through it, making MeetMe a social gathering place for the mobile generation. MeetMe the public market leader for social discovery has announced that through Quantcast, the company has made its mobile traffic data publicly available. Quantcast is a digital advertising company specializing in audience’s measurement and online real-time advertisement.
Since the launch of MeetMe.com, the company through Quantcast has now been able to record its web audience. The company’s mobile data active users have increased to 2.36 million since the first quarter of 2013. MeetMe is enabling advertisers to reach maximum number of people in US and to increase the value of its mobile advertising platform.
Geoff Cook, Chief Executive Officer has keenly analyzed the rapid increase of mobile applications usage in the present scenario. Mr. Cook has said that mobile constitutes the vast majority of daily visits which is rapidly increasing the share of their revenue.
The company announced that it is expecting to generate revenue of $9 million in its second quarter which will be 15% higher than the first quarter results on a sequential basis. The company expects Mobile advertising revenue to be approximately around $2.5 million in comparison to $1.9 million in the first quarter. The company is delighted with the improvement in the projected revenue and believes that the second quarter revenue is driven by stronger acceptance of MeetMe products for mobile environment. The company is expecting to announce its second quarter results in early August 2013.
The stock of the company performed well enough and recorded a plunge of $0.71 before closing the previous day’s trading session at $1.82. The average volume of the stock traded is 0.192 Million whereas 3.34 million shares exchanged hands in its previous day’s trading session.
