NEW YORK, Feb. 4, 2014 /PRNewswire/ -- Snap Interactive, Inc. ("SNAP" or the "Company") (OTCQB: STVI), a leading social dating developer and owner of AYI.com, today announced that the number of active subscribers on AYI.com increased 5% during the month of January 2014, signifying the largest monthly increase in active subscribers since February 2012.
SNAP's Chief Executive Officer, Clifford Lerner, commented, "January was AYI.com's strongest month in terms of active subscriber growth in nearly two years. We were able to build on our momentum coming out of the fourth quarter of 2013 and are excited to be growing again."
Mr. Lerner continued, "We closed 2013 with strong momentum as December was AYI.com's best month in terms of active subscriber growth in well over a year. January 2014 proved to be even stronger, with new subscription transactions up 20% over December 2013 and 57% over January 2013. We believe we can continue to grow our active subscriber base during 2014 while tightly controlling costs, and we continue to focus on reaching break-even cash flow during the third quarter of 2014."
SNAP's Chief Financial Officer Jon Pedersen added "We continue to see improvements in the rates at which our users convert to paid active subscribers and the effectiveness of our advertising and marketing campaigns. Growth in our active subscribers is a leading indicator of the health of our business, and we expect continued growth in the number of active subscribers during 2014 as we move towards profitability."
About Snap Interactive, Inc.
Snap Interactive, Inc. develops, owns and operates a social dating application for social networking websites and mobile platforms. SNAP's flagship brand, AYI.com is one of the largest social and mobile dating applications on the Internet and offers a completely integrated Facebook, iPhone, Android and Web dating application. AYI.com's mission is to improve the online dating experience of meeting new people by integrating a user's friends and interests to enable more meaningful connections. For more information on SNAP, please visit http://www.snap-interactive.com, its online dating blog at http://www.ayi.com/dating-blog, on Facebook at facebook.com/SnapInteractiveInc and on Twitter at @SNAPInteractive.
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. Android® is a registered trademark of Google Inc. AYI.com® 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 Company's future growth and the ability to obtain additional financing to implement the Company's growth strategy; the ability to achieve break-even cash flow; the ability to grow revenue, decrease expenses and increase the number of active subscribers or new subscription transactions; the ability to anticipate and respond to changing user and industry trends and preferences; the intense competition in the social dating marketplace; and circumstances that could disrupt the functioning of the Company's application 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.
SOURCE SNAP Interactive, Inc.