when all members of a solid group of friends get together to hang out.
maggs: Hey stef, beers tonight?
stef: sure, anyone else coming?
maggs: yeah! mark and nick are down!
stef: yay! its a gangout!
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noun: A Google Hangout
verb: To participate in a Google Hangout
noun: Let's jump in a gangout
verb: My best friend moved to the other side of the world, but we gangout every Saturday
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mä: hey guys lets have hangout gangout tomorrow at 1iltapöiväl