NEW HOPE, PA--(Marketwired - May 1, 2013) - MeetMe, Inc. (
"It's been exciting to watch MeetMe transform over the past year to become a publicly traded, mobile-first social discovery network," said Maurice Werdegar, COO of WTI. "We are especially pleased to continue a relationship that dates back to 2007 and to provide MeetMe with capital to fund additional growth that supports the management team's vision to become the social gathering place for the mobile generation."
"This line of credit further strengthens our balance sheet, providing additional funding for continued expansion and innovation, while strengthening our cash position as we pursue our transition to mobile, and it also allows us to monetize the opportunities MeetMe has as the leader in social discovery," said Geoff Cook, CEO, MeetMe, Inc.
Earlier this year, the company announced the MeetMe social discovery service is now available in more than a dozen languages. Earlier this month, the company announced its first mobile premium subscription product MeetMe+ as well as native feed advertising in mobile applications.
About MeetMe, Inc.
MeetMe® is the leading social network for meeting new people in the US and the public market leader for social discovery (
About Western Technology Investment Western Technology Investment (WTI) is a Silicon Valley based registered investment advisor which manages venture debt funds which invest globally in a wide range of technology companies ranging from seed-stage start-ups to publicly-held companies. Over more than 30 years, WTI has arranged loans in excess of $3 billion to exceptional teams building market leading companies, including Facebook, Google, Brocade Communications, Cerent, IDEC Pharmaceuticals, InvenSense, IronPort Systems, Juniper Networks, Neutral Tandem, Postini, and Youku. Please visit www.westerntech.com for more information.
Contact: Robin Shallow EVP Communications & Public Relations MeetMe, Inc. (215) 862-7823 robin@meetme.com Follow us on Twitter @meetme Investor Contact: E. Brian Harvey Vice President of Capital Markets and Investor Relations MeetMe, Inc. (215) 862-1162 x266 brian@meetme.com Follow our business news on Twitter @meetmecorp
