NEW YORK, NY / ACCESSWIRE / February 7, 2017 / Snap Interactive, Inc. ("SNAP," the "Company," "we," "our," or "us") (OTCQB: STVI), a leading provider of video chat and online dating services, today announced that it had launched the first of many expected integrations of its array of video chat and dating applications.
On February 6, 2017, the Company released an update to its Paltalk application that includes navigation to a new "Dating" section, which highlights the new affiliation of FirstMet and Paltalk as a result of the merger. Paltalk users are encouraged to register for FirstMet to connect with a large pool of users seeking romantic relationships. The Company expects that engagement and monetization of existing Paltalk users will be enhanced through this integration.
"We are excited to introduce the first dating integration into our video chat ecosystem," said Arash Vakil, SNAP's Chief Product Officer. "Many of our video chat users on Paltalk are interested in meeting new people, and in our cross-sell tests, we verified there is a strong interest in dating. In the near future, we expect to enable an even more seamless integration of dating functionality into our video chat products, in order to meet that demand. Further, there is also an opportunity to integrate real-time and recorded video into our dating applications."
Alex Harrington, SNAP's Chief Executive Officer, added, "We are starting to realize the benefits of integrating the complementary features and audiences of the products originating from each side of our recent merger, reinforcing the strategic rationale for the deal. We look forward to executing on more of such synergy opportunities in the coming year."
About Snap Interactive, Inc.
Snap Interactive, Inc. is a leading provider of real-time, rich media, interactive social networking and dating applications with more than 250 million users around the world. The SNAP product portfolio includes Paltalk and Camfrog, which together host one of the world's largest collections of video-based communities, and FirstMet, a prominent interactive dating brand serving users 35 and older. The Company has a long history of technology innovation and holds 25 patents related to video conferencing and online gaming.
For more information, please visit http://www.snap-interactive.com.
The contents of our website are not part of this press release, and you should not consider the contents of this website in making an investment decision with respect to our common stock.
Facebook is a registered trademark of Facebook Inc. Apple, iTunes, and iPhone are registered trademarks of Apple Inc., and App Store is a registered service mark of Apple Inc. Android and Google Play are registered trademarks of Google Inc. Paltalk, Camfrog, FirstMet, and The Grade are trademarks of Snap Interactive, Inc.
This press release contains "forward-looking statements." Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with general economic, industry and market sector conditions; the ability to effectively integrate the operations of the Company and Paltalk; user acceptance of our updated applications; the Company's ability to institute corporate governance standards or achieve compliance with national securities exchange listing requirements; the Company's future growth and the ability to obtain additional financing to implement the Company's growth strategy; the ability to increase or recognize revenue, decrease expenses and increase the number of active subscribers, new subscription transactions or monthly active users; the ability to enter into new advertising agreements; the ability to diversify new user acquisition channels or improve the conversion of users to paid subscribers; the ability to anticipate and respond to changing user and industry trends and preferences; the intense competition in the online dating marketplace; the ability to release new applications or derive revenue from new applications; and circumstances that could disrupt the functioning of the Company's applications. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission ("SEC"), including the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov.
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.
SOURCE: Snap Interactive, Inc.