Mimvi Acquires FanAppic.com
iOS app review site to extend company's influence in app industry
SUNNYVALE, Calif., April 30, 2013 /PRNewswire/ -- Mimvi, Inc. (OTCQB: MIMV), the leading mobile search and recommendation technology company, today announced it has acquired FanAppic (www.FanAppic.com), a top-tier Apple iOS app review website with tens of thousands of monthly visitors.
"The acquisition of FanAppic extends our reach into the mobile app developer and consumer communities," said Michael Poutre, Mimvi CEO. "It also gives us another revenue stream based on getting developers visibility while helping consumers discover interesting new apps."
FanAppic, which launched in 2010, features reviews on iPhone and iPad apps, accessories and other products for the Apple community. It generates revenue through advertising, sponsorships, email list marketing and accelerated reviews.
"This acquisition is immediately accretive, and very timely as we look to launch MimviLink in the third quarter," Poutre added. "It helps us generate more consumer traffic and build our developer base by the thousands."
Headquartered in Sunnyvale, California, Mimvi, Inc. (MIMV) is the leading mobile search and recommendation technology provider. Its proprietary search and "intelligent" recommendation algorithms enable the search and discovery of Mobile Apps, Mobile Content and Mobile Products across multiple devices and platforms, including: Apple's iPhone and iPad, Google Android, BlackBerry, Windows Phone, Facebook and web applications.
Safe Harbor Statement:
This Press Release may contain certain forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. MIMVI has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect Mimvi's current beliefs and are based on information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause Mimvi's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. MIMVI undertakes no obligation to update or provide advice in the event of any change, addition or alteration to the information contained in this Press Release including such forward-looking statements.
SOURCE Mimvi, Inc.
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