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.”
On April 19, Friendable, Inc. (OTC Pink: FDBL) announced that its Friendable app had surpassed the 1 million downloads milestone and in addition, at that time, there were 708,760 registered users which gave great validation to the widespread acceptance of the Friendable App and its brand. This came in just days after the company announced a 558% increase in new downloads over the previous months of January and February 2016.
FDBL, was contacted by the Kluger Agency (TKA) who had worked on many successful strategic relationships with companies like PlentyOfFish.com and Tinder. Earlier this year, Friendable, Inc. entered into an agreement to retain TKA to identify and secure relationships with music celebrities as well as integrate the Friendable App into music videos with Major A-List recording artists.
As a result, the Friendable app was featured in the new Jennifer Lopez music video “Ain’t Your Mama”. You can see the video here: http://emerginggrowth.com/2016/05/06/friendablel-app-featured-in-jennifer-lopez-new-aint-your-mama-video/
In addition to the Friendable App being exposed to JLo’s 35 million Twitter, 45 million Facebook and 44 million Instagram followers, in the “Ain’t Your Mama” video, the Friendable name has also been featured along with JLo’s in online articles seen on Page Six, Spin, Yahoo, and Fox News.
Friendable has been announcing their explosive download and new user data following the end of the month and we are excited to see how Jlo has affected its users to date.
TKA specializes in working with clients to partner products with celebrities like Jennifer Lopez, Lady Gaga, Britney Spears, Flo Rida, Eminem, Christina Aguilera, Alicia Keys, and Meghan Trainor, elevating brands to unparalleled results.
Celebrity recording artist Redfoo shot out on Instagram just a few days ago, “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/
Downloads in the US and Canada are up substantially and the Friendable App is Climbing. The Friendable App spiked to the 3rd most downloaded app against all paid (Apple App Store) social networking apps in Canada, and 57th in the US.
The Company has also seen a dramatic increase in its free app user session times (time spent in app) over previous months and shows a 100% increase internally. Industry standard is approximately 35 seconds on iOS social networking apps. Friendable’s current user base consistently topped 1 minute for the month of May 2016. (Source: Flurry)
As we see TKA introduce more celebrities to get on the Friendable bandwagon, we expect the Friendable uses to grow exponentially.
So, what is the value of a user?
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? Friendable, Inc.’s agreement calls for a “Series of Strategic Celebrity Partnerships, including the integration of the company’s brand into music videos”.
FDBL’s 10K filed on April 14, 2016, states “As of April 11, 2016, there were 293,358,162 shares of the registrant’s common stock issued and outstanding.” This puts the Friendable, Inc. valuation at approximately $4.4 million.
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.
Question, Are you Friendable?
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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