SNAP Interactive CEO Clifford Lerner Featured on CNBC
NEW YORK, Feb. 14, 2012 /PRNewswire/ -- This morning, SNAP Interactive, Inc. ("SNAP" or the "Company") (OTCBB: STVI) CEO Clifford Lerner was interviewed on CNBC's Worldwide Exchange. A link to the video can be found below:
Highlights from the Interview
- Discussed trends in mobile and social dating
- 55 million net installs of the AreYouInterested.com application on Facebook® Platform
- As of February 14, 2012, AreYouInterested.com is the 4th highest grossing app on iTunes under the category iPhone – U.S. Social Networking
- SNAP is reinventing the AreYouInterested.com application around big data – interest-based matching and social discovery
- As of February 14, 2012, AreYouInterested.com has 6.6 million Monthly Active Users on Facebook, per AppData.com
- As of February 2012, 15 percent of AreYouInterested.com logins occur on a mobile device
- 11 straight quarters of revenue growth
- Quarterly revenue increased 98 percent to $5.5 million compared to $2.8 million for the comparable period in 2010 while annual revenue increased 188 percent to $19.2 million compared to $6.6 million for 2010
About SNAP Interactive, Inc.
SNAP Interactive, Inc. develops, owns and operates online dating and social networking applications for social networking websites and mobile platforms. SNAP's flagship brand, AreYouInterested.com®, is one of the largest social dating applications on the Internet with over 55 million installs, and 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 references to our websites are inactive textual references only and not hyperlinks. 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. 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 Form 10-Ks, Form 10-Qs and other recent 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.
SOURCE SNAP Interactive, Inc.
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