SNAP Interactive Provides Business Update & Product Roadmap Highlights For AreYouInterested.com
NEW YORK, Nov. 29, 2012 /PRNewswire via COMTEX/ --
SNAP Interactive, Inc. ("SNAP" or the "Company") (OTCBB: STVIE), a leading social application developer, is pleased to announce several exciting product highlights and key marketing initiatives for its flagship social discovery product AreYouInterested.com. AreYouInterested.com re-launched as a social discovery product in August 2012 and has since undergone significant refinement and optimization of its feature-set. As a result of these optimizations, it has experienced meaningful increases in certain key metrics.
"At the time of AreYouInterested.com's re-launch, we labeled it a redesign and technical roll-out of the new product and indicated that we would move into the testing, measuring and optimization phase," said SNAP's president and chief executive officer, Clifford Lerner. "We are now firmly entrenched in this phase of rapid iteration and optimization and are beginning to see results across various metrics. We have spent the past year increasing the size of our technical team and re-engineering the site around emerging big data technologies and, as a result of this hiring and infrastructure expansion, are in a much better position to launch exciting new features while optimizing existing ones. In addition, we are experimenting with a variety of new features centered around leveraging Facebook's social channels in order to generate organic traffic to the site to supplement our traditional paid user acquisition campaigns."
Lerner continued, "We believe our recent feature launches are only just beginning to scratch the surface of their potential and, along with a product roadmap full of exciting ideas and further innovation, we eagerly look toward 2013."
As a result of its transition to a social discovery site, AreYouInterested.com now offers features that are specifically designed to encourage users to share content and engage with their friends with the principal goal of generating organic growth and re-engaging existing users. Various concepts are currently being tested, including incorporating videos that make the user's experience more engaging while encouraging users to share content with other members as well as their friends. Several of these features are aimed at leveraging Facebook's various communication channels such as requests, notifications, and the open graph with the intention to re-engage existing application users and acquire new users.
There are several exciting marketing initiatives planned for the remainder of 2012 as well as the first quarter of 2013, including the anticipated use of several recently launched Facebook advertising products. "Custom audiences" is a Facebook® product that will allow AreYouInterested.com to show advertisements to its existing customer base specifically while they are on Facebook. This tool will be used as a means to re-engage current users based on our specific knowledge of those users.
We have also begun testing Facebook's "Mobile Ads" product to show ads to iOS users that take them directly from Facebook to the AppStore where they can download the AreYouInterested.com iPhone application.
Additionally, we are exploring various revenue generating opportunities through experimentation with micro-transactions, feature add-ons, more payment options and pricing tests. We also continue to test and optimize existing features in order to maximize revenue generation from these features.
Other recent launches and features currently in development include:
On-site communication enhancements including an overhaul to our instant messaging experience which we anticipate launching in the first quarter of 2013
Smart Match (live) - An algorithm that incorporates a user's interests, demographics, and behavioral data to pair users with someone that should be a good match for them.
Interest Landing Pages (live) - Interest Landing Pages display users that have a particular interest, and show videos that are related to that interest.
Key traffic and engagement metrics for AreYouInterested.com:
Monthly Active Users (MAUs) on the AreYouInterested.com app on Facebook Platform totaled 5.29 million as of September 30, 2012; and
We averaged over 450,000 daily sessions or visits to our mobile AreYouInterested.com platforms (including iPhone, mobile web, and Android sessions) during the third quarter of 2012.
About SNAP Interactive, Inc.
SNAP Interactive, Inc. develops, owns and operates social discovery applications for social networking websites and mobile platforms. SNAP's flagship brand, AreYouInterested.com®, is one of the largest social discovery applications on the internet, based on monthly active users ("MAUs") of the AreYouInterested.com application on the Facebook Platform, and it offers a completely integrated Facebook, iPhone, Android and Web application. For more information, please visit http://www.snap-interactive.com, its blog at http://blog.snap-interactive.com, on Facebook at facebook.com/SnapInteractiveInc and on Twitter at @SNAPInteractive.
The contents of these 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," "project," "seek," "target," and variations of such words and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to certain risks, uncertainties and assumptions that may cause actual results to differ materially from those expressed by the forward-looking statements, including, but not limited to, the following: general economic, industry and market sector conditions; 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 chief executive officer and sole 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; 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 ability to develop and market new technologies to respond to rapid technological changes; increased governmental regulation of the online dating, social networking or Internet industries; and circumstances that could disrupt the functioning of the Company's applications and websites. In evaluating these statements, you should carefully consider these risks and uncertainties and those described under the headings "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other Securities and Exchange Commission filings.
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, except to the extent required by applicable securities laws.
Media Contact: Lindsay Bubbico Finn Partners for SNAP Interactive 212.583.2738 Lindsay@finnpartners.com
SOURCE SNAP Interactive, Inc.
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