Approximately two weeks ago, Friendable, Inc. (OTC Pink: FDBL) announced that it has received an investment commitment in the amount of $1.615 million. In connection with this investment, Friendable, Inc. completed the acquisition of live streaming video technology, along with a royalty free, perpetual license to integrate and utilize the technology with the Friendable app, from Hang With, Inc.
Brett Maas, Managing Partner of Hayden IR, added, “Friendable is an exciting technology story on the cusp of significant growth with its unique social media app set to launch in the coming months.”
Facebook’s Mark Zuckerberg has stated that he is “obsessed” with live streaming.
Twitter (NASDAQ: TWTR), and Facebook (NASDAQ: FB) have recently jumped on the live video bandwagon, and with contracts to stream live NFL games, Bloomberg TV, and the Democratic and Republic conventions one could say they are thriving.
Friendable CEO, Robert A Rositano Jr. stated “We believe the Hang W/ technology will create a differentiated offering for our brand in the live video streaming marketplace and allow the Company to capitalize on our many relationships in various celebrity circles.”
Twitter, Inc. quietly purchased Periscope for just under $100 million in early 2015.
As of August 12, 2015, Periscope had only 10 million users and 2 million daily active users.
Can a small company like Friendable, Inc. (OTC Pink: FDBL) break into the space and further, become an acquisition target? Some might say no, but they probably forgot that Friendable also gained access to 8 million users who have signed up to utilize Hang W/’s live streaming video technology as part of its investment commitment and Hang With, Inc. technology acquisition approximately two weeks ago.
Full Press Release:
CAMPBELL, CA–(Marketwired – Nov 7, 2016) – Friendable, Inc. (the “Company”) ( OTC PINK : FDBL ), a mobile & social focused technology company, today announced that it has engaged Hayden IR, a highly-recognized national investor relations consulting firm.
“Over the past year, we have executed on a number of initiatives to strengthen our model, expand our brand, and position Friendable for success as a growing public company,” said Robert A. Rositano Jr., Chief Executive Officer of Friendable, Inc. “With several exciting developments already in our pipeline and our belief that Friendable’s next app release is a game changing application in the live video marketplace, we felt it was an opportune time to engage a strategic investor relations firm to help us more efficiently communicate our near- and long-term prospects to the market and expand awareness of our company.”
With offices in New York, Phoenix, and Minneapolis, Hayden IR provides a comprehensive range of investor relations services. Hayden IR works with micro- and small-cap public companies to more effectively communicate with the institutional investment community and connect its clients to an extensive network of investors, analysts and money managers across the country though a comprehensive, multi-tier proactive program.
Brett Maas, Managing Partner of Hayden IR, added, “Friendable is an exciting technology story on the cusp of significant growth with its unique social media app set to launch in the coming months. The company is well positioned to leverage its past success through the conversion of new mobile users to its streaming live video platform. Hayden IR brings a proven track record of helping established micro- and small-cap companies enhance their value by delivering the right message to the right audience.”
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 one million (1,000,000) total downloads since the Company’s inception and launch of the app in June 2013 under its previous brand name.
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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.