Wednesday, November 19, 2008 9:46:00 AM
Major Milestone: SNAP Exceeds 15 Million Users on Facebook(R) Platform
NEW YORK, NY, Nov 19, 2008 (MARKET WIRE via COMTEX) -- SNAP Interactive, Inc.
("SNAP" or the "Company") (STVI), a leading provider of online dating
applications for social networking websites, announced today that the Company's
applications have just exceeded 15 million users on Facebook(R) Platform, the
application platform of the world's 4th most heavily-trafficked site. (Source:
comScore)
"We are incredibly proud that, in just over a year, we have been able to surpass
15 million total installs on Facebook Platform. This marks not only a major
milestone for SNAP, but the sheer enormity of this figure also clearly points to
a seismic shift in the online dating industry," stated SNAP President and CEO
Clifford Lerner. "The industry is expected to grow to $1.9 billion by 2012.
(Source: JupiterResearch) Traditional industry leaders are suffering from flat
subscription and revenue growth, in part because users have discovered 'social
dating' -- meeting people via applications on the social networks of which they
are already members. The launch of developer platforms like Facebook Platform in
May 2007 provided the first real way for users to do their dating within these
social networks where they are already spending significant amounts of time.
Dating on social networks is faster, more casual and fun, and eliminates much of
the stigma historically associated with traditional online dating sites. And the
proof of this is in the numbers -- our 15 million users on Facebook Platform
alone already puts us right in line with some of the industry's established
leaders, and we have achieved this without significant marketing expense.
"We have grown quickly and have established a user base large enough to make a
SNAP association attractive to major industry players. Our attention will now
gradually turn from growing our existing base to monetizing that base and
exploring new opportunities for growth such as mobile dating and increasing our
presence on other, more recently launched, social networking platforms with large
user bases."
To be added to the SNAP investor email list, please email
justin.davis@cirrusfc.com with STVI in the subject line.
About SNAP Interactive, Inc.
Incorporated in Delaware and headquartered in New York, SNAP Interactive, Inc. is
a leading provider of online dating applications for social networking websites.
SNAP has developed two dating applications built on Facebook(R) Platform which
have in excess of 15 million installations, and has also launched dating
applications on MySpace Developer Platform & Hi5 Developer Platform. Our
applications are called 'Are You Interested,' 'Meet New People,' and 'Flirt With
Me.'
For more information visit http://www.snap-interactive.com.
Facebook(R) is a registered trademark of Facebook Inc.
Forward-Looking Safe Harbor Statement:
This press release contains forward-looking statements that are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. By their nature, forward-looking statements and forecasts involve risks and
uncertainties because they relate to events and depend on circumstances that will
occur in the near future. There are a number of factors that could cause actual
results and developments to differ materially from forecasted results. These
risks and uncertainties include product demand, market competition, delays in
application development, technical issues beyond our control, reliance on the
various platforms that we build applications on, and risks inherent in our
operations. For a discussion of these risks and uncertainties, please see our
filings with the Securities and Exchange Commission. Our public filings with the
SEC are available from commercial document retrieval services and at the website
maintained by the SEC at http://www.sec.gov. All traffic statistics are recent
averages.
CONTACT:
Cirrus Financial Communications, LLC
Justin K. Davis
(877) 977-STVI (7884)
Email Contact
http://www.cirrusfc.com
SOURCE: SNAP Interactive, Inc.
http://www2.marketwire.com/mw/emailprcntct?id=4C60251ABDFDA5BD
http://www.cirrusfc.com
Copyright 2008 Market Wire, All rights reserved.
NEW YORK, NY, Nov 19, 2008 (MARKET WIRE via COMTEX) -- SNAP Interactive, Inc.
("SNAP" or the "Company") (STVI), a leading provider of online dating
applications for social networking websites, announced today that the Company's
applications have just exceeded 15 million users on Facebook(R) Platform, the
application platform of the world's 4th most heavily-trafficked site. (Source:
comScore)
"We are incredibly proud that, in just over a year, we have been able to surpass
15 million total installs on Facebook Platform. This marks not only a major
milestone for SNAP, but the sheer enormity of this figure also clearly points to
a seismic shift in the online dating industry," stated SNAP President and CEO
Clifford Lerner. "The industry is expected to grow to $1.9 billion by 2012.
(Source: JupiterResearch) Traditional industry leaders are suffering from flat
subscription and revenue growth, in part because users have discovered 'social
dating' -- meeting people via applications on the social networks of which they
are already members. The launch of developer platforms like Facebook Platform in
May 2007 provided the first real way for users to do their dating within these
social networks where they are already spending significant amounts of time.
Dating on social networks is faster, more casual and fun, and eliminates much of
the stigma historically associated with traditional online dating sites. And the
proof of this is in the numbers -- our 15 million users on Facebook Platform
alone already puts us right in line with some of the industry's established
leaders, and we have achieved this without significant marketing expense.
"We have grown quickly and have established a user base large enough to make a
SNAP association attractive to major industry players. Our attention will now
gradually turn from growing our existing base to monetizing that base and
exploring new opportunities for growth such as mobile dating and increasing our
presence on other, more recently launched, social networking platforms with large
user bases."
To be added to the SNAP investor email list, please email
justin.davis@cirrusfc.com with STVI in the subject line.
About SNAP Interactive, Inc.
Incorporated in Delaware and headquartered in New York, SNAP Interactive, Inc. is
a leading provider of online dating applications for social networking websites.
SNAP has developed two dating applications built on Facebook(R) Platform which
have in excess of 15 million installations, and has also launched dating
applications on MySpace Developer Platform & Hi5 Developer Platform. Our
applications are called 'Are You Interested,' 'Meet New People,' and 'Flirt With
Me.'
For more information visit http://www.snap-interactive.com.
Facebook(R) is a registered trademark of Facebook Inc.
Forward-Looking Safe Harbor Statement:
This press release contains forward-looking statements that are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. By their nature, forward-looking statements and forecasts involve risks and
uncertainties because they relate to events and depend on circumstances that will
occur in the near future. There are a number of factors that could cause actual
results and developments to differ materially from forecasted results. These
risks and uncertainties include product demand, market competition, delays in
application development, technical issues beyond our control, reliance on the
various platforms that we build applications on, and risks inherent in our
operations. For a discussion of these risks and uncertainties, please see our
filings with the Securities and Exchange Commission. Our public filings with the
SEC are available from commercial document retrieval services and at the website
maintained by the SEC at http://www.sec.gov. All traffic statistics are recent
averages.
CONTACT:
Cirrus Financial Communications, LLC
Justin K. Davis
(877) 977-STVI (7884)
Email Contact
http://www.cirrusfc.com
SOURCE: SNAP Interactive, Inc.
http://www2.marketwire.com/mw/emailprcntct?id=4C60251ABDFDA5BD
http://www.cirrusfc.com
Copyright 2008 Market Wire, All rights reserved.
Discover What Traders Are Watching
Explore small cap ideas before they hit the headlines.

