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Non-GAAP net income reached .8 million, a 103% increase over Q2 of last year.
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The two, Skout's chief executive officer and chief technology officer respectively, relaunched the network in 2009 as a dating and people discovery application and website after recognizing over 80% of the site's users were using it as a dating platform. - it uses the ‘Meet People’ search settings and instantly matches Skouters who share similar interests.
SKOUT extended its services from 14 languages to 16 languages including Malay and Vietnamese in 2016.
SKOUT has received million in investment from Andreessen Horowitz and has been funded by early-stage investors including Janice Brandt, former vice chair of AOL; Jarl Mohn, founding president and CEO of Liberty Digital; and Hans Akerblom, founder and chair of Scandinavian Leadership AB.
The social discovery service, founded in 2005 to connect users on mobile devices, has posted better-than-anticipated financial results for the second quarter of 2016.
SKOUT is the developer of a location-based social networking and dating application and website.
SKOUT was one of the first dating and mobile people discovery applications to emphasize generalized user location.
Adjusted EBITDA increased 109% year-over-year to .0 million, reflecting a 37% adjusted EBITDA margin.
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Instead, revenue exceeded expectations, climbing 48% from last year and clocking in at .4 million.
Mobile revenue rose 82% to .1 million year-over-year.
The company also announced plans to acquire Skout, a leading global mobile network for meeting new people.
Wall Street’s initial projections predicted .27 million in revenue for Meet Me.