The Meet Group's Latest Acquisition Brings International Exposure, Diversified Revenue

Meet-up app operator The Meet Group (NASDAQ: MEET) continued its acquisition sprint last week, scooping up German-based dating app company Lovoo for $70 million. That was its third company purchase in the past year and will provide The Meet Group with more users, new revenue streams, and more international exposure.

Additionally, the purchase of Lovoo -- which is the No. 1 dating app in Germany, Switzerland, and Austria (based on a number of downloads) -- puts The Meet Group squarely in the dating app space and makes it a stronger competitor to reigning king The Match Group (NASDAQ: MTCH).

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Source: Fool.com