Friendable, Inc. Updates Shareholders on Strategic Plan

Friendable, Inc. has released additional details on its strategic plans and mobile app update.

Friendable, Inc. is a mobile and social focused technology company. It looks to develop, acquire and invest in mobile applications with a social focus.

It launched its mobile social application, Friendable, in 2013. The app enables users to create one-on-one or group meetups for drinks, food, live music or an event.

The app continues to grow organically with approximately 900,000 registered users.

Robert Rositano Jr., CEO of Friendable, Inc said: “The Company believes it has made great strides in bringing the Friendable brand to the market, as well as having had tremendous momentum and success with the Friendable app over the years.

“As with any mobile app that requires critical mass or millions of monthly active users, the business model also requires significant investment to continue marketing, promoting and acquiring users. Keeping the network active and ultimately building a strong community of active users is what the Company believes will translate into many revenue opportunities.” 

He added: “Based on our user base having become an asset in and of itself, we feel it is in the best interest of the Company and our shareholders to pursue various opportunities to monetize these users. This includes seeking complementary business combinations, merger and acquisition strategies and ultimately a strategy that drives the restructure of the Company’s current debt.

“Alongside these efforts, we will continue to evaluate various ways in which value can be created for the Friendable brand and the Company’s shareholders.”

This year, Friendable, Inc. is planning to release “Fan Press”, which is a live streaming video application where users will be able to watch exclusive video content of their favourite celebrities.

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