Pathmatics provides digital advertising intelligence, which allows users to view online advertising spend by company or view what is spent on a specific site and which advertisers and ad networks are displaying ads on a specific site. This information is obviously extremely useful to investors.

One topical example is Meet Me (MEET), which was recently subject to a short report in which the author claims advertisers will bail on the company as they are unaware that advertisements sometimes are displayed near NSFW and lewd pictures. The author claims these advertisers will be replaced by less profitable mobile gaming advertisers, who are less concerned about which properties display their advertisements. While we do not yet have a view on MEET specifically, we do acknowledge that on a per MAU (monthly active user) basis, it is currently one of the most expensive companies in the world (over $50/ MAU, more expensive than Twitter). If advertising revenue does see a downtick, the shares could lose a significant amount of value, as similar comps trade closer to the $10-20 MAU range.

Most of Meet Me’s revenue and traffic comes from its mobile app, and unfortunately Pathmatics only supports browser advertising information. This means this data is not extremely relevant from a top line perspective for the company. However, the data is helpful to identify additional advertisers to speak with to confirm if they plan on continuing to advertise with the company after the recent revelations, as we suspect most companies and ad networks displaying advertisements are unaware of the NSFW content which sometimes is presented on the site and within the app. Below is desktop advertising information and mobile browser information is included as well:


Other use cases for Pathmatics include estimating online advertising spend for a specific company when projecting quarterly results.