CAMPBELL, CA--(Marketwired - Oct 6, 2016) - Friendable, Inc. (the "Company") (OTC PINK: FDBL), announced today it has been negotiating with the holder of specific technology that it believes will allow the Company to extend its brand and begin to uniquely monetize the Friendable app.
The Company believes this technology will allow it to execute a multiple channel revenue model that has the potential for a high conversion rate based on its target audience and demographic.
"We are viewing this opportunity in two parts, an extension of the Friendable app and the next generation of the Friendable brand," stated Friendable CEO, Robert A. Rositano Jr. "As we review the first three quarters of the year, we must attribute app download surges to our various celebrity initiatives and relationships to date. Friendable appeared in the music videos of Jennifer Lopez, Redfoo, Fifth Harmony & Fetty Wap, and Daya as well as a promotion with Epic Records for a Meghan Trainor concert ticket giveaway. Additionally, Friendable was used by teen celebrity Austin Mahone to organize a live meet up event for his fans in the Los Angeles, Ca. area."
"As a result we have analyzed these initiatives to better understand what this could mean for Friendable if we were to deliver a unique offering and experience to each celebrity's fan base. We believe that with a successful acquisition of this technology, Friendable will reach new heights and begin to monetize," said Rositano Jr.
Friendable will provide updates in the coming days on the status of its negotiations.
Friendable, Inc. is the mobile-social network focused on the future, rather than sharing the past. It is all about having location specific and nearby opportunities to connect with others. The Friendable brand represents a "friends first" approach and takes all the pressure off its users, making it simple to create new connections, create meet up style events, or simply tell others what you are "Friendable" for. Based upon shared interests and locations, users can engage with what makes sense for them. Increased user interactions will allow Friendable to offer advertising and sponsorship opportunities to local venues/businesses and begin to generate revenue by providing these venues with location specific opportunities to reach potential customers when it matters most. As of September 2016, Friendable has exceeded over 1 million total downloads since the Company's inception and launch of the app in June 2013 under its previous brand name.
For more information about Friendable, Inc. please visit: www.Friendable.com
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Cautionary Language Concerning Forward-Looking Statements:
This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected by Friendable, Inc. The iTunes rankings should not be construed as an indication in any way whatsoever of the future value of the Friendable's common stock or its present or future financial condition. The public filings of Friendable, Inc. made with the Securities and Exchange Commission may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Friendable, Inc. cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, Friendable, Inc. does not undertake, and Friendable, Inc. specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.