The social discovery platform recorded more than 15 million chats sent on Monday, a single-day record. In a press release CEO Geoff Cook noted that in April the service couldn't consistently break 10 million chats a day.
"This acceleration in chat activity is a testament to the strength of our recent launches, including Friend Suggestions and Icebreakers," Cooki said. "We believe it also reflects our audience's strong desire to connect and communicate with new people. As we continue to optimize MeetMe to funnel traffic into Chat more efficiently, we believe we will see additional growth in chat activity and overall mobile daily active users (DAU)."
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TheStreet Ratings team rates MEETME INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate MEETME INC (MEET) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The area that we feel has been the company's primary weakness has been its disappointing return on equity."
Highlights from the analysis by TheStreet Ratings Team goes as follows: