SNAP Plan To Follow ‘The Grade’ With More Mobile Products

Snap Interactive

Snap Interactive have shared some updates about their company performance in 2014.

The public company said last year that they planned to launch a portfolio of services, to backup their flagship product

Their first big step in this direction was with the release of The Grade, a Tinder-style app where singles are ranked from A+ to F, which was launched last November.

The company did release a different app called Mutually, prior to this, but as the iTunes link on that site now redirects to The Grade, it seems to have fallen by the wayside.

Snap did not reveal numbers about The Grade in their business report, such as users or engagement, with CEO Lerner just saying that they “received a strong reception in the press, and the concept seems to be resonating with users.”

Here are some business insights into their 2014:

  • Total revenues for the year ending 31st December were $13.6m, an 8% increase from 2013.
  • had 100,700 active subscribers at the end of the year, a 30% increase from the year before.
  • New subscription transactions for also increased to 18% compared to the fourth quarter of 2013.

SNAP’s Chief Executive Officer, Clifford Lerner said: “We were very pleased to have achieved our objectives for 2014.  Ending the year as we did with the 12% quarterly year-over-year topline revenue growth demonstrates the building momentum in our business, as does the 30% gain in active subscribers we experienced over the course of the year”

Their COO, Alex Harrington said that over the coming year the company plan to: “expand our product array further, both to enrich the monetization of our existing audience and to broaden our reach to untapped user communities.”

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