SOURCE: SNAP Interactive, Inc.

January 16, 2008 07:30 ET

SNAP Interactive Releases Preliminary 2007 Fourth Quarter Revenues

Revenues Increase Over 900% From Third Quarter to Fourth Quarter

NEW YORK, NY--(Marketwire - January 16, 2008) - SNAP Interactive, Inc. (OTCBB: STVI) today announced unaudited preliminary revenue results for its quarter ended December 31, 2007. SNAP Interactive is pleased to announce fourth quarter revenues in excess of $388,000. This represents an increase of approximately $352,000 when compared to our third quarter revenues of $35,383. The increase in revenues can be attributed to the continued growth and popularity of SNAP's applications built on Facebook® Platform and the beginning of its monetization efforts.

SNAP Interactive CEO, Clifford Lerner, states that, "SNAP's fourth quarter results indicate that our shift in focus to building online dating applications and our monetization plans are working." Lerner continues, "In a short period of time, SNAP has built online dating applications whose traffic and metrics compare to many of the largest online dating sites. SNAP's online dating applications received over 5.5 million unique visitors in December 2007 and averaged over 1 million daily visits in December 2007, reflecting more than a 75% increase over November traffic." SNAP's largest application, 'Are You Interested,' received 28.5 million visits in December.

SNAP's two online dating applications built on Facebook Platform combine for over 7 million installations and averaged over 1 million daily visits in December. SNAP's largest application, 'Are You Interested,' had over 6 million installations as of December 31, 2007 and averaged 920,000 daily visits in December 2007, compared to 5.1 million installations and an average of 580,000 daily visits in November 2007.

SNAP's second application, 'Meet New People,' is also one of the largest dating applications on Facebook. As of December 31, 2007, 'Meet New People' had approximately 800,000 installations, compared to 200,000 installations at the end of November, representing 300% growth. 'Meet New People' averaged over 100,000 daily visits in December.

Below are some metrics of SNAP's applications: (All traffic totals are approximate)

Monthly Unique Visitors

Application             October      November     December
Are You Interested:   1.4 million  3.2 million  5.2 million
Meet New People:         30,000       52,000       350,000

Average Daily Number of Visits

Application             October       November     December
Are You Interested:     220,000       580,000      920,000
Meet New People           6,500         6,500      120,000

SNAP plans to continue to improve its current applications by adding new features and also plans to launch additional applications in 2008. SNAP recently changed its name from eTwine Holdings, Inc. to SNAP Interactive, Inc. to better reflect the company's focus on building online dating applications on social networking sites.

Detailed financial results for the quarter ending December 31, 2007 and Fiscal Year 2007 results, along with a more thorough discussion of our revenues and costs, will be available in our 10-K which we anticipate filing on or before March 30, 2008.

Facebook® is a registered trademark of Facebook Inc.

About SNAP Interactive Holdings:

Incorporated in Delaware and headquartered in New York, SNAP Interactive, Inc. is a leading provider of online dating applications for social networking websites. SNAP has developed two applications built on Facebook Platform which have in excess of 7 million installations. Our applications are called 'Are You Interested' and 'Meet New People.'

We also own an online dating website called IamFreeTonight.com. IamFreeTonight.com is a 100% free online dating service for singles and offers all personals and standard online dating features for singles in addition to its unique Wingman and Date Now concepts to meet singles.

For more information visit http://www.snap-interactive.com

Forward-Looking Safe Harbor Statement:

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially from forecasted results. These risks and uncertainties include product demand, market competition, delays in website development, technical issues beyond our control, and risks inherent in our operations. For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov.

Contact Information

  • Contact:
    Cliff Lerner
    516-942-2030