I'll favor the company's assessment of "significant" over yours. They know the relative impact of the Microsoft partnership whereas you're simply speculating that it isn't significant.
Several pundits including Motley Fool, SeekingAlpha and Tobin Smith also disagree with your assessment of this Partnership.
I know that large, successful, high tech companies in ultra competitive environments don't throw money around without doing significant due diligence.
Here is Motley Fools conclusion of the partnership:
Conclusion
Microsoft is unlikely to have made this investment without having a good, long look under the hood of Mimvi's technology and the likelihood that Mimvi is acquired by Microsoft or another suitor is only increased with this news. And with these type of aggressive partnerships in the mobile space, I would recommend Microsoft as a strong buy
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