LAS VEGAS, June 4, 2012 /PRNewswire/ -- Thwapr, Inc. (OTCBB: THWI), a mobile video sharing company, reports that it has begun the design and localization of its iPhone App to be made available to the millions of Chinese iPhone owners in China.
Thwapr is working closely with its development team in Singapore to define new localized features that adapt to Asian culture and local monetization opportunities. The Singapore team has an in-depth understanding of the Chinese mobile market, as they operate a mobile community that has high penetration in China.
One of the focused features in the plan includes the sharing of mobile videos within local Chinese Social Network sites such as Qzone, Renren, Pengyou, Sina Weibo, and Kaixin001. They have a collective registered user base in excess of 800 million – a formidable demographic within the confines of a single country.
Sharing video within Social Network sites in China continues to grow. Renren recently acquired video sharing site 56.COM, for $80 Million, proving the ongoing need for enhanced video sharing capabilities. A majority of social network users in China access the Social Network sites via their mobile devices; the convergence of social networks and online video gives rise to the popularity of mobile video sharing, and Thwapr will be applying its patent-pending technology to enhance this user experience.
"Our plans include working with local channel partners to grow this market opportunity together. As this market matures, we will see it double or triple that of the US. We want to create a first mover advantage here over our US competitors," said Ron Singh, CEO of Thwapr, Inc.
About Thwapr, Inc.
Thwapr is a mobile video sharing platform company that has engineered a proprietary technology to deliver the best possible mobile video quality and user experience regardless of device, network or carrier. Thwapr's seamless device agnostic process empowers users to socialize video content, and provides a solution to monetize the mobile community. Founded by digital video pioneers from Apple, Avid and MTV, Thwapr's patent-pending technology allows brands and marketers a new visual communication channel to engage the hundreds of millions of consumers with Web-enabled mobile devices. Visit us at www.thwapr.com, follow us at www.twitter.com/thwapr or Like us on Facebook www.facebook.com/thwapr.
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This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new products and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in Thwapr's annual report on Form 10-K for the most recent fiscal year, Thwapr's quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Paramount Advisors, LLC
SOURCE Thwapr, Inc.