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Snap Interactive's Rapid Growth Subject of Feature Article on Small Cap Leader Knobias.comLink to Article: http://www.knobias.com/iris/story/stvi.pdf (November 14, 2008)
NEW YORK, NY -- (Marketwire) -- 11/14/08 -- SNAP Interactive, Inc. ("SNAP" or the "Company") (OTCBB: STVI), a leading provider of online dating applications for social networking websites, announced today that the Company was the subject of a feature article on Knobias.com, a leading source of small cap information for the institutional audience.
As excerpted from the article:
The Company has already become profitable despite an early focus on user growth ahead of monetization. Its revenues have increased for each of the past five quarters while its operating costs remain low. SNAP reported $533,257 in revenue for the quarter ended June 30, 2008. The Company has issued revenue guidance for Q3 of $870,000, a 63% quarterly increase over Q2.
Clifford Lerner, Chairman and CEO of SNAP Interactive, explained to Knobias, "We have a total of 17 million installations and about 1.4 million visits a day to its applications. About 14-15 million of the 17 million users are currently on Facebook, so a major opportunity for growth exists on the other social networks."
SNAP is also exploring other opportunities that exist in mobile industry with the emergence of the iPhone, Blackberry and Android. There are very few companies that have the ability to build a critical mass of users on a mobile dating application. The Company is in a good position with its 17 million users that have all come from social networks and are a younger demographic that would use these applications.
To be added to the SNAP investor email list, please email email@example.com with STVI in the subject line.
About Knobias, Inc.
Knobias, Inc. (www.knobias.com) provides a wide range of financial information solutions for all sides of the U.S. stock market. Knobias combines proprietary content and technology into efficient platforms for the consolidation, distribution & targeted presentation of investment decision information for customers and affiliates. Knobias platforms provide news, filings, fundamentals, transaction databases, calendars, research, tools and analysis for all U.S. equities with a special emphasis on small-caps. Knobias customers include retail investors, day-traders, buy-side & sell-side professionals, public issuers, financial websites and financial content providers.
About SNAP Interactive, Inc.
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 dating applications built on Facebook® Platform which have in excess of 15 million installations, and has also launched dating applications on MySpace Developer Platform & Hi5 Developer Platform. Our applications are called 'Are You Interested,' 'Meet New People,' and 'Flirt With Me.'
For more information visit www.snap-interactive.com.
Facebook® is a registered trademark of Facebook Inc.
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 application development, technical issues beyond our control, reliance on the various platforms that we build applications on, 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. All traffic statistics are recent averages.
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