the combined company will have 10.6 million total monthly users, and nearly 1.1 million daily users in the U. Meet Me expects If(we) to add million in adjusted EBITDA to its earnings over the next 12 months.
Meet Me will fund the buyout with cash on hand, revenue, earnings and a million loan from JP Morgan.
If(we) managed to pull in million in revenue in 2016, with mobile revenue up 56 percent in a year as it began to follow its users to smartphones.
The company has also developed a photo verification process, where users upload a photo of themselves mimicking a specific pose.
This photo is then verified in a minute by one of Badoo's 5,000 moderators.
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The social discovery and dating app developer isn't pinging on too many Wall Street radars, but the stock is trading 46% higher in 2018.
The difference maker at The Meet Group is a video business that didn't even exist a year ago.Greg Tseng, Tagged’s founder who stepped back from daily operations, tells Tech Crunch, “They did a great job with the Skout acquisition so that gave us confidence in combining.” Meet Me bought the location-focused social discovery network Skout in June.He says Meet Me also plans to invest in live video.Tagged and Hi5 will remain their own distinct brands.Tagged had originally planned to go public itself before the shift to mobile led to a precipitous drop-off of its desktop properties.A CNET review by Rafe Needleman described Badoo's first impression as "creepy".