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SOURCE Snap Interactive, Inc.
NEW YORK, Aug. 19, 2014 /PRNewswire/ -- Snap Interactive, Inc. ("SNAP" or the "Company") (OTCQB: STVI), a leading online dating provider and owner of AYI.com, today announced business updates relating to the performance of its AYI online dating application on mobile platforms.
Highlights for AYI.com
Mobile Metrics Year-To-Date Through July 31, 2014
During 2014, increasing the presence of the Company's AYI online dating application in the mobile market has become a high priority corporate objective for SNAP. In order to achieve this goal, the Company's management has focused on improving the user experience of the mobile offerings for AYI, which include the native iPhone®, iPad® and Android® applications along with the AYI mobile website. The Company's objective was to create a seamless cross-platform experience so that new and existing AYI users could login to any platform to access their messages, communicate cross-platform with other users and subscribe to access the entire feature-set.
The Company hit an important success milestone yesterday, as AYI was ranked the #1 for US Top Grossing Applications in the US Lifestyle category in the Apple iTunes store. In addition, AYI experienced a 57% increase in mobile subscription transactions year-to-date through July 31, 2104, as compared to the same period in 2013. Furthermore, in July 2014 mobile logins represented 38% of the average total daily logins, the highest percentage of mobile logins ever.
Snap's Chief Executive Officer Clifford Lerner commented, "Mobile is the primary platform for an increasingly large segment of online dating users, and we were determined to create an excellent experience on all mobile platforms to take a leadership position in the market. We're excited to be the #1 Top Grossing application in the US Lifestyle category in the Apple iTunes store. It shows that iPhone users have really embraced the AYI app and user experience we worked so hard on. We believe mobile is an important engine of growth in the online dating industry, and we're pleased to be one of the leading providers of online dating applications."
Snap's Chief Operating Officer Alex Harrington added, "Mobile is not only strategically important, but also a very lucrative platform for the Company. In July 2014, approximately 52% of our user acquisitions occurred on mobile platforms, which helped diversify marketing sources and increase marketing efficiency. In addition, 32% of new subscription transactions originated from mobile platforms in July 2014. This robust mobile acquisition and monetization capability contributed to our recent success in delivering positive Adjusted EBITDA in the quarter ended June 30, 2014, and will further support the goal of generating net cash from operating activities for the quarter ending September 30, 2014."
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About Snap Interactive, Inc.
Snap Interactive, Inc. develops, owns and operates an online dating application for social networking websites and mobile platforms. SNAP's flagship brand, AYI.com is one of the largest online and mobile dating applications on the Internet and offers a completely integrated Facebook, iPhone, Android and Web dating application. AYI.com's mission is to improve the online dating experience of meeting new people by integrating a user's friends and interests to enable more meaningful connections.
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. Android® is a registered trademark of Google Inc. AYI.com® is a registered trademark of Snap Interactive, Inc.
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 forward-looking statements. Such forward-looking statements are subject to certain risks, uncertainties and assumptions that may cause actual results to differ materially from those expressed by the forward-looking statements, including, but not limited to, the following: general economic, industry and market sector conditions, including growth in the mobile portion of the industry and market; the portion of the online dating market that uses mobile platforms and applications; the Company's future growth and the ability to obtain additional financing to implement the Company's growth strategy; the ability to achieve break-even cash flow or net cash from operating activities; the ability to increase or recognize revenue, decrease expenses and increase the number of active subscribers, new subscription transactions or users that convert to paid subscribers; the ability to diversify new user acquisition channels; the ability to anticipate and respond to changing user and industry trends and preferences; the intense competition in the social dating marketplace; and circumstances that could disrupt the functioning of the Company's application and websites. In evaluating these statements, you should carefully consider these risks and uncertainties and those described under the headings "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other Securities and Exchange Commission filings.
All forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement was made, except to the extent required by applicable securities laws.
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