SNAP Interactive Establishes Advisory Board
SNAP Appoints Jerry King and Andrew Weinreich to Advise Company on Strategy and Growth
NEW YORK, Sept. 6, 2012 /PRNewswire/ -- SNAP Interactive, Inc. ("SNAP" or the "Company") (OTCBB: STVI), a leading social application developer who recently announced the redesign of AreYouInterested.com into a social discovery platform, announced today that it has appointed Jerry King and Andrew Weinreich to its recently created Advisory Board. Advisory Board members will assist the Company with devising strategy, developing plans for growth and facilitating introductions. Mr. King and Mr. Weinreich bring clear track records of success as technology entrepreneurs.
As an advisor to SNAP, Jerry King brings over 30 years of experience delivering new software products and services to market. Mr. King was most recently the Chief Operating Officer of WHERE, Inc., an industry-leading provider of mobile local search and advertising services. Mr. King managed WHERE, Inc. from start-up to profitability and ultimately until its acquisition by eBay, Inc. in 2011 for $135 million. Earlier in his career, Mr. King's tenure as both director and operating executive for C-bridge Internet Solutions, Inc. resulted in a successful IPO of C-bridge Solutions, Inc. in 1999. Mr. King has also served in leadership positions at Progress Software Corporation and Sybase, Inc. and also held a series of advanced technology roles on Wall Street. Mr. King graduated with a B.A. from Tufts University and a M.S. from Bentley College.
Andrew Weinreich has spent the past 16 years starting and building businesses. In January 2004, Andrew founded I Stand For, Inc., a full service technology solutions provider to political campaigns and non-profit organizations. In 2001, Andrew founded Joltage, Inc., an infrastructure services business devoted to building out a global network of WiFi hotspots. In 1996, Andrew launched the social networking space with sixdegrees.com, which over a period of five years grew to become one of the largest community sites on the internet and was ultimately sold for approximately $125 million. Mr. Weinreich is currently the Chairman and Co-Founder of MeetMoi, LLC and
Xtify, Inc. – both location based mobile startups in New York City.
"We are fortunate to add two outstanding people as Advisory Board members," said SNAP's president and chief executive officer, Clifford Lerner. "Andrew and Jerry are extremely accomplished and their resumes speak for themselves. They both have relevant experience and expertise in the technology, social and mobile spaces and they understand how to build and scale a first class technology organization. I look forward to being able to draw upon their knowledge, experience and guidance as we move into SNAP's next phase."
"SNAP's business model is undergoing an exciting shift by moving into the realm of social discovery", says Mr. King. "I am eager to dig in with the team and harness the potential for a rapidly expanding user base and new revenue opportunities."
"I've known Cliff Lerner for several years and I'm a big believer in his leadership, dedication and product vision," commented Weinreich. "I'm very excited about SNAP's transition and I'm thrilled to work with Cliff and his team on the opportunity to grab leadership in the broader social networking space."
About SNAP Interactive, Inc.
SNAP Interactive, Inc. develops, owns and operates social discovery applications for social networking websites and mobile platforms. SNAP's flagship brand, AreYouInterested.com®, is one of the largest social discovery applications on the internet, based on monthly active users ("MAUs") of the AreYouInterested.com application on the Facebook Platform, and it 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 contents of these 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: our ability to work with and integrate the newly created advisory board; the impact of the newly created advisory board on our future business and results of operations; our reliance on the advisory board for guidance and strategic direction; our ability to successfully develop, test and launch our redesigned platform; the ability to create user engagement, viral growth and revenue generation with our new platform; 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 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.
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