MeetMe #21 on Deloitte Fast 500, but I'd add an asterisk to that
Tom Paine
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New Hope-based MeetMe was ranked #21 nationally and #3 among Internet companies on the 2014 Deloitte Fast 500 (last year it was #3 overall), but although MeetMe is an impressive, growing company, as I explained last year its ranking by Deloitte is a bit misleading, though not intentionally so.
Deloitte's 2009-2013 growth rate for MeetMe reflects the addition of myYearbook's revenue to Quepasa's relatively tiny base after Quepasa (essentially little more than a public shell) technically acquired myYeabook in 2010 though myYearbook was the much larger company. The merged company was subsequently renamed MeetMe. So MeetMe being so high on the list is something of an aberration. Again, this is not a knock on MeetMe, which has performed well. It reported revenue of $11.6 million, up 15% from last year, and break even net income for the 3rd quarter 2014 as it continues to transition from desktop to mobile.
A Deloitte spokesperson confirmed by email last year that its methodology in the case of public companies is to take revenue from the public company's 10-K and doesn't distinguish between organic and inorganic growth.
The Philadelphia Business Journal shows what area companies made the Deloitte 2014 Fast 500.
