- What is Meetup, and how does Meetup work?
- How does Meetup make money?
- Organizer Subscription Revenue (Meetup Pro)
- Meetup Subsidiaries, Acquisitions, and Exits
- Meetup profit and revenue
- What is the Meetup business and revenue model?
- Meetup funding, net worth, and valuation
How does Meetup, or Meetup.com, make money if it’s free to use? Here is a full, in depth, breakdown of their main revenue stream and services they offer, as well as the Meetup business model, their profit and revenue, and how Meetup works.
What is Meetup, and how does Meetup work?
Meetup is a social platform where people can host and organize events, groups, and activities (both in-person and online) to find like-minded people with similar interests and hobbies.
Founded in 2002 by Scott Heiferman and four co-founders, Meetup went on to later get acquired by AlleyCorp on March 30, 2020, for an undisclosed amount.
Since that time, Meetup now has more than 50 million members across 190 countries worldwide.
So, how does Meetup work? To use Meetup, users can download their mobile app on the Apple App Store or Google Play store; or visit their website.
Once on the homepage, users can search for groups by simply typing in what they want to do and in what neighborhood / zip code. Once they find an event they’re interested in, they can click on the event’s page, tap “Attend”, and pay the event fee, if any.
Some of Meetup’s competitors include Eventbrite and other event hosting platforms.
How does Meetup make money?
According to Meetup, Meetup has roughly 50 million members, 90,000 groups, and 140,000 organizers on its platform. So how does Meetup make money off of all this?
Below is a breakdown of how much money Meetup makes and its revenue model. Including their main revenue stream and how much they charge for their services.
Here is how Meetup makes money in 2022
Meetup has a revenue model that makes money in just one (1) way; subscription revenue.
#1. Organizer Subscription Revenue (Meetup Pro)
Meetup makes all of its money through the subscription service they offer to organizers.
Meetup offers two (2) types of subscription tiers for its organizers; Standard and Pro. Both of which offer their own set of perks and also both allow organizers to start a group on the platform, which they cannot do without one.
Organizers then have the option of charging their group attendees’ dues or event fees to help cover their subscription costs. If they choose to do this, Meetup does not take any cut or percentage of what organizers charge their members.
As noted above, Meetup has roughly 140,000 organizers on its platform. All of which are paying for either a Standard or Pro subscription. Which you can see how much they cost below.
How much does Meetup cost?
- Standard: $14.99 to $23.99 per month (depending on the country the organizer is located in)
- Pro: $35 per month per group
Note: Subscriptions are required for organizers, they cannot start a group without one.
Meetup Subsidiaries, Acquisitions, and Exits
Aside from Meetup being acquired by AlleyCorp, Meetup has had its own fair share of acquisitions as well.
To date, Meetup, Inc. has made a total of 1 acquisition.
Meetup profit and revenue
Meetup has not released any official reports in regards to company earnings.
Note: Because Meetup, Inc. is a privately held company, they are not required to make their annual reporting, such as Form 10-K’s, pubic.
What is the Meetup business and revenue model?
Meetup makes money through a few revenue models that they combine within their company, they are:
- Subscription business model
- B2B2C (partnerships) business model
- Mergers & acquisitions (M&A) business model
Meetup funding, net worth, and valuation
According to Meetup’s Crunchbase profile, Meetup has raised $18.3 million over 6 rounds.
On March 30, 2020, Meetup was acquired by AlleyCorp for an undisclosed amount, per reports.