SOURCE: SNAP Interactive, Inc.

SNAP Interactive, Inc.

March 10, 2011 10:27 ET

SNAP Interactive Reports Traffic Growth on Its AreYouInterested.com and WhoIsNear.com Applications

AreYouInterested.com Dating Application Surpasses 35 Million Total Installs and Adds More Than 6.5 Million Total New Installs for January and February

NEW YORK, NY--(Marketwire - March 10, 2011) - SNAP Interactive, Inc. ("SNAP" or the "Company") (OTCBB: STVI), a leading social application provider with over 40,000,000 installs across its social dating applications, today announced that its AreYouInterested.com dating application added more than 3,000,000 new installs in both January and February to surpass 35,000,000 total installs. SNAP's newest product, WhoIsNear.com, was launched in public beta in early February 2011 and experienced exciting growth last month as well. WhoIsNear.com is a unique and innovative location-based service with a fully-integrated web, mobile, iPhone and social application enabling easy access to a user's social graph.

Additional recent traffic highlights include:

  • Year-to-date our AreYouInterested.com dating application added more than 7,500,000 new installs;
  • Our AreYouInterested.com dating application averaged more than 100,000 new installs per day from January 1 - February 28, 2011; and
  • Our WhoIsNear.com application added more than 113,000 new installs in February 2011.

"We're delighted by the growth that the AreYouInterested.com brand continues to experience," stated SNAP's Chief Executive Officer Clifford Lerner. "Not all of these installs lead to users filling out full profiles and becoming active or paying users. However, we consider these growth figures to be extraordinary for an online dating product. With the funds from our recent capital raise, we have concentrated our efforts towards expanding our user acquisition campaigns -- with a focus on campaigns that we believe will produce a positive return over the lifetime of a user -- as well as on hiring additional talent to keep growing our programming and support team. We continue to combine these efforts with enhancements to the AreYouInterested.com product itself, with a long-term view of positioning the product for further growth and ensuring that the AreYouInterested.com brand remains on the leading edge of the social dating landscape."

"We're also extremely excited about the first month of public beta for WhoIsNear.com," Mr. Lerner continued. "We remain focused on building a best-in-class location-based product with WhoIsNear.com. We continue to develop the product by adding new features to its already vast feature-set on an almost daily basis." 

About SNAP Interactive, Inc.

SNAP Interactive, Inc. is a leading provider of online dating applications for social networking websites and mobile platforms. SNAP has developed two social dating applications built on the Facebook® platform that collectively have more than 40,000,000 installations on Facebook. SNAP's portfolio of applications for singles is led by the AreYouInterested.com brand which consists of AreYouInterested.com, the AreYouInterested.com iPhone Dating Application, and the AreYouInterested.com Facebook Dating Application. SNAP has also recently developed a location-based social application, WhoIsNear.com. For more information visit www.snap-interactive.com. The reference to our corporate website is an inactive textual reference only and not a hyperlink. 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.

Forward-Looking Statements

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 such forward-looking statements. All forward-looking statements speak only as of the date on which they are made. Such forward-looking statements are subject to certain risks, uncertainties and assumptions relating to certain factors, including, without limitation, the following: the ability to successfully transition to a subscription-based online dating model; the ability to obtain additional financing to implement the Company's long-term growth strategy; the ability to anticipate and respond to changing consumer trends and preferences; reliance on the Company's sole officer and director and the Company's ability to attract and hire key personnel; the intense competition in the online dating marketplace; the ability to establish and maintain brand recognition; the ability to develop and market new technologies to respond to rapid technological changes; 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, including the sole ability to remove an application from the platform; the Company's protection of its intellectual property; the potential impact of a finding that the Company has infringed on the intellectual property rights of others; the ability to create and maintain secure websites and protect its technology from hackers; reliance upon credit card processors and related merchant account approvals; and other circumstances that could disrupt the functioning of the Company's applications and websites.

These risks and uncertainties, as well as other risks of which we are not aware or which we currently do not believe to be material, may cause actual future results to be materially different than those expressed by these forward-looking statements. In evaluating the statements, you should specifically consider various factors that may cause actual results to differ materially from those expressed in these forward looking statements. Readers should carefully review the risk factors under "Risk Factors" in the Company's Form 10-Ks, Form 10-Qs and other recent Securities and Exchange Commission filings.

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