Friendable Inc. (OTC Pink: FDBL) is the mobile-social network focused on the future, rather than sharing the past, where it’s 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 for its users, making it simple to make new connections, create meet up style events or simply tell others what you are “Friendable for.”
Since 2008, we have seen the US Population on some sort of social media increase from 24% to 78% in 2016, with Facebook (NASDAQ: FB) being the obvious leader of the bunch.
However, Facebook, Inc. is more of a digital sharing platform. What if someone is interested in actually being social NOW, and wanted to get out to meet new people with similar interests at an event, or a new person for a movie?
Enter Friendable, Inc. (OTC Pink: FDBL). Sitting around the house, feeling like a movie? Start the app and view profiles of others who are sitting around just like you, also friendable for a movie. Maybe it’s a bike ride, or a pizza. How about a local show, or a simple cup of coffee. Sushi… a drink? Just load the app, state what you’re friendable for, and make a stress free connection. Check out the video.
Ultimately, Friendable, Inc. (OTC Pink: FDBL) has seen a very positive response to its app since it launched under its new brand. The company continues to be primarily focused on new user acquisitions and increased user engagement.
Friendable is realizing benchmark milestones.
- April 19th, Friendable surpasses 1 million downloads
- May 9th, Friendable was featured in Jennifer Lopez’s “Ain’t Your Mama” Music Video
- May 11th, Friendable spiked to the third most downloaded app against all paid (Apple App Store) social networking apps in Canada.
- May 11th, Friendable recognized a dramatic increase in its free app user session times (time spent in app) 1 minute vs. an industry standard of 35 seconds.
- May 15th, Celebrity recording artist Redfoo shot out on Instagram, “Yea Babies, meet me on Friendable. Great app for getting ahold of me and the Party Rock Crew” https://www.instagram.com/p/BFWyzA_izMX/
- May 29th, Friendable’s paid version of its iOS app reached the number 26 position up from 57 about 1 week earlier of all Paid US Social Networking Apps.
- June 2nd, Friendable app rankings in Apple’s iTunes App Store continue to trend higher reaching record highs in 6 countries in both the social media and overall app categories.
- June 10th, Auston Mahone wrote on Instagram: “AustinMahone Bored af???? I’ll be on @friendableapp for the next few hours doing chats and following! Get the app and sign up, see if you can be the first one to find me!! ???? link in bio” Link to Austin Mahone IG
So how do we value it to date?
Here are some recent examples of valuations placed on other relationship based platforms and apps.
Founded by four students at Harvard University founded OKCupid.com (Originally TheSpark.com) In 1999. In February 2011, Match.com announced that it had acquired OKCupid.com for $50 million in cash. At the time, OKCupid had 3.5 million users or a $14.00 per user valuation.
Tinder app, founded in 2012 was valued by Merrill Lynch at 1.35 billion in July of 2015 following the increase in its majority stake by in 2014. This was based on 50 million users at a $27 per user valuation. However, Merrill added that this estimate was below the $33 and $42 per user that Facebook paid for Instagram and WhatsApp respectively.
Is Friendable at these levels yet? Obviously not. But getting there… yes. Celebrities have a way of jumpstarting products. Jennifer Lopez, RedFoo Who’s next?
We are dubbing Friendable as the “Anti Tinder” App. Coincidently, there have been many Anti-Tinder online marketing campaigns and websites developed against the “Hookup” app. We believe that the Friendable model can gain a much wider range of acceptance among all age groups and communities without the perceived stigma that other apps place on their users.
As far as their revenue model goes, It’s virtually endless. In contrast to s solely subscription based model, Friendable’s increased user interactions will allow Friendable to offer advertising and sponsorship opportunities to local venues/businesses, to generate revenue by providing these venues with location specific opportunities to reach potential customers when it matters most; when they are nearby and looking for something to do and someone to do it with. Think of the possibilities.
Austin Mahone – What are YOU Friendable For?
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http://www.businessinsider.com/match-buys-plentyoffish-for-575-million-2015-7 via Wiki IAC Company
http://www.businessinsider.com/all-eyes-are-on-tinder-2015-7 via Wiki Tinder