Former Goldman Sachs Equity Analyst and Venture Capital Veteran Brings Additional Crypto and Blockchain Expertise to SNAP Leadership
NEW YORK, NY / ACCESSWIRE / November 28, 2017 / Snap Interactive, Inc. ("SNAP," the "Company," "we," "our" or "us") (OTCQB: STVI), a leading provider of live video social networking applications building on innovative technologies such as blockchain, today announced that it has appointed Wall Street crypto expert and venture capital veteran Lou Kerner to its Blockchain Advisory Board. Upon accepting his appointment, Mr. Kerner will begin advising on the strategic development of blockchain and crypto initiatives at SNAP in order to assist with the Company's strategy of capturing the growth and value creation potential of these emergent technologies. Mr. Kerner will also leverage his significant experience to provide advice to the Company regarding macro-crypto and blockchain industry developments.
"We are thrilled to add Lou to our Blockchain Advisory Board," said Alex Harrington, SNAP's Chief Executive Officer. "Lou is one of Wall Street's top thinkers and influencers on the potential of Blockchain and cryptocurrencies and their ability to revolutionize a large swath of the economy. In addition to his macro views on crypto, Lou brings a wealth of knowledge in such areas as crypto token economics, governance and consensus, and crypto for social good. We expect Lou to contribute significantly to guiding our investments in blockchain partnerships and internal initiatives, and to help us educate the investor community on SNAP's exciting blockchain growth potential."
Mr. Kerner noted, "I'm excited to work with SNAP's management and join Mike Jones on the Blockchain Advisory Board as I believe that SNAP's leadership in video social networking, combined with its blockchain platform strategy, positions SNAP to be a leader in the emerging blockchain and crypto economy."
Since 2013, Mr. Kerner has been a crypto enthusiast, investor, public speaker, advisor and thought leader. Mr. Kerner is ranked among the five most influential crypto bloggers on Medium and regularly holds conference calls with crypto industry innovators attended by hundreds of crypto enthusiasts and investors from around the world.
Lou Kerner is a Partner at Flight VC where he manages The Israel Founders Syndicate, which invests in Israel-based tech companies. Prior to Flight VC, Mr. Kerner was the Managing Partner of The Social Internet Fund (SIF) and an angel investor, best known for investing in Facebook and writing the first Wall Street style research report on the company in 2010. Prior to start-up investing, Mr. Kerner ran two digital companies, including Bolt (the largest social network before MySpace), and .tv (dot "tv"), which commercialized the ".tv" top-level domain and was acquired by Verisign. Lou also had a distinguished career as an equity analyst following media and tech companies for Goldman Sachs and Merrill Lynch.
Lou has a B.A. from UCLA and an MBA from The Stanford Graduate School of Business.
About Snap Interactive, Inc.
Snap Interactive, Inc. is a leading provider of live video social networking applications building on innovative technologies such as blockchain. SNAP's 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 26 patents related to video conferencing and online gaming.
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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 AVM; the timing and amount of any future repurchases of the Company's common stock, if any; 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 Company's ability to generate positive cash flow from operations; 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 website at http://www.sec.gov.
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SOURCE: Snap Interactive, Inc.