(Dallas, TX. – September 21, 2011) StockGuru Shines its Spotlight on SNAP Interactive, Inc. (OTCBB: STVI).
Continued Growth Also Highlighted by Top 10 Ranking for AreYouInterested.com iPhone Application in Top Grossing Applications for U.S. Social Networking
SNAP Interactive, Inc. (OTCBB: STVI), a leading social application developer with over 50 million installs across its properties, announced yesterday several significant mobile-related developments including the launch of a mobile Web version of its flagship AreYouInterested.com social dating application. The mobile Web launch of AreYouInterested.com, which is available on a variety of mobile platforms including Android, iOS, and Blackberry OS 6.0+, provides increased distribution capabilities to accommodate the growing number of users on various platforms looking to sign up for and use AreYouInterested.com through their mobile device. Users today can access the new mobile website by visiting http://m.areyouinterested.com/ on their mobile browser. The Company closed on September 20, 2011, at $0.84, trading in a fifty-two week range of $4.09 – 0.76.
SNAP has prioritized mobile initiatives throughout 2011, and the launch of a mobile Web version of AreYouInterested.com represents one of its most significant achievements to date. The release of the mobile Web version of AreYouInterested.com includes the ability to browse users profiles and photos, click “Yes” on users, and read and compose messages. The application leverages cutting-edge front end technologies to bring the rapid desktop browsing experience to users on the go. SNAP’s near-term roadmap for mobile includes enhancing the feature-set as well as incorporating various mobile payment options in order to increase revenue opportunities.
“As more and more Web browsing and online activity shifts to smart phones and mobile devices, it’s essential to take a forward-looking approach and position our products to grow and thrive in a mobile-dominated world,” said SNAP President & CEO Clifford Lerner. “In doing so, we spent a considerable amount of time building the AreYouInterested.com mobile Web version with a focus on a high quality user experience. While many competitors simply tweak their existing products so they can be viewed on a mobile device, we built a customized offering specifically for mobile users, highlighted by an optimized browsing experience.”
While the mobile Web version of AreYouInterested.com represents a new offering for SNAP, the AreYouInterested.com iPhone mobile dating application continues to gain significant traction and positions SNAP as one of the few companies with a leading application on both Facebook® Platform as well as the iPhone® Application Platform. On the heels of the recent launch of subscriptions through the iPhone, the AreYouInterested.com iPhone application currently ranks in the iTunes App Store as a Top 10 Grossing application for U.S. Social Networking. Since the subscription method launched in early July, over 5,000 users have purchased monthly subscriptions to AreYouInterested.com through the iPhone.
“SNAP continues to maintain a long-term view in its product development and has prioritized innovating on Facebook Platform and mobile devices,” Lerner continued. “We believe the next big opportunity for SNAP is in the mobile space. We anticipate these mobile initiatives will pay considerable dividends over time, and early results are incredibly encouraging. With a large user base to draw from, low user acquisition costs and an integrated product offering across multiple platforms, we feel we are perfectly positioned to be a leader in the mobile dating space and redefine how people date online and across mobile devices.”
About SNAP Interactive, Inc.
SNAP Interactive, Inc. develops, owns and operates online dating and social networking applications for social networking websites and mobile platforms, such as Facebook® and iPhone®. SNAP has in excess of 50 million total installations across its AreYouInterested.com® and WhoIsNear.com application brands and 1 million daily visits across its properties. SNAP’s flagship brand, AreYouInterested.com®, is one of the largest social dating applications on the Internet with over 49 million users, and offers a completely integrated Facebook, iPhone and Web application. SNAP also offers a multi-platform location-based service called WhoIsNear.com, which allows users to discover new people and venues in the vicinity, from wherever they are around the world. For more information, please visit www.snap-interactive.com. The references to our websites are inactive textual references only and not hyperlinks. The contents of our websites are not part of this press release, and you should not consider the contents of these websites in making an investment decision with respect to our common stock.
Facebook® is a registered trademark of Facebook Inc. iPhone® is a registered trademark of Apple Inc. Are You Interested?® is a registered trademark of SNAP Interactive, Inc.
This press release contains “forward-looking statements” made under the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 that are based on current expectations, estimates, forecasts and assumptions and are subject to risks and uncertainties. Words such as “anticipate,” “assume,” “believe,” “estimate,” “expect,” “goal,” “intend,” “plan,” “prioritize,” “project,” “roadmap,” “seek,” “target,” and variations of such words and similar expressions are intended to identify such forward-looking statements. All forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement was made. Such forward-looking statements are subject to certain risks, uncertainties and assumptions relating to certain factors, including, without limitation, the following: the ability to obtain additional financing to implement the Company’s long-term growth strategy; the ability to effectively manage the Company’s growth; the ability to anticipate and respond to changing consumer trends and preferences; reliance on the Company’s sole officer and director and the Company’s ability to attract and hire key personnel; reliance on a very limited number of third party platforms to run the Company’s applications and the ability of third party platforms to take action against these applications, including the ability to restrict access to platform functionality, to remove an application from the platform, to force the Company to use their method of payment or to restrict the methods of collecting payments through their platform; the intense competition in the online dating marketplace; the ability to establish and maintain brand recognition; the ability to develop and support successful applications for mobile platforms; the ability to advertise the Company’s products through a variety of advertising media; the possibility that the Company’s members and subscribers may be harmed following interaction with other members and subscribers; the risk that the Company is deemed a dating service provider rather than an online personal services provider; the ability to develop and market new technologies to respond to rapid technological changes; the Company’s protection of its intellectual property; the potential impact of a finding that the Company has infringed on the intellectual property rights of others; the ability to create and maintain secure websites and protect its technology from hackers; the risk of disruption or restriction on our email deliverability; the risk of programming errors or flaws in the Company’s products; the Company’s dependence on a single vendor to host the majority of its application traffic; increased governmental regulation of the online dating, social networking or Internet industries; reliance upon credit card processors and related merchant account approvals; and other circumstances that could disrupt the functioning of the Company’s applications and websites.
These risks and uncertainties, as well as other risks of which the Company is not aware or which the Company does not currently believe to be material, may cause actual future results to be materially different than those expressed by these forward-looking statements. In evaluating the statements, you should specifically consider various factors that may cause actual results to differ materially from those expressed in these forward looking statements. Readers should carefully review the risk factors under “Risk Factors” in the Company’s Form 10-Ks, Form 10-Qs and other recent Securities and Exchange Commission filings.
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