Snap Interactive Announces Progress on 2014 Objectives for Marketing and Application Platform Diversification
NEW YORK, July 11, 2014 /PRNewswire/ -- Snap Interactive, Inc. ("SNAP" or the "Company") (OTCQB: STVI), a leading online dating site developer and owner of AYI.com, today announced business updates from its 2014 initiative to identify new growth opportunities by diversifying advertising and marketing channels.
AYI was one of the first dating apps to embrace the Facebook Platform, which drove much of its early growth, and the Company remains optimistic about opportunities on the Facebook Platform. However, AYI also offers its application on iPhone, Android, iPad, and destination mobile and desktop websites at ayi.com, each presenting distinct and robust user acquisition channels. As such, the Company set an objective in early 2014 to diversify sources of user acquisition while diminishing the percentage of newly acquired users signing up on the Facebook Platform.
With respect to SNAP's user acquisitions sources, the Company announced that the percentage of new users acquired through advertisements placed on sources other than Facebook media increased from 43% in March 2014 to 72% in June 2014. With respect to the acquisition of new users by platform, the percentage of new users acquired on application platforms other than Facebook, including the Company's mobile iPhone and Android apps, increased from 35% in March 2014 to 62% in June 2014.
SNAP's Chief Executive Officer, Clifford Lerner, commented, "The Facebook Platform remains a significant opportunity, but to maximize growth opportunities, the Company has broadened its marketing reach. We are pleased that we have been able to successfully diversify new marketing channels in a matter of a few months."
SNAP's Chief Operating Officer, Alex Harrington, added, "The Facebook Platform was a key source of the Company's early success, and we believe it will continue to be an important part of our business into the future. However, with AYI's presence on multiple platforms, we are able to diversify our application usage and marketing efforts to reduce the Company's exposure to any single platform."
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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.
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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 increase or recognize revenue, decrease expenses and increase the number of active subscribers or new subscription transactions; the ability to diversify new user acquisition channels; 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.
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SOURCE Snap Interactive, Inc.