EQUITIES MAGAZINE — Dec 9 — After starting out as a stand-alone
online dating website called IamFreeTonight, Snap transformed itself
into a developer of online applications for social networks including
"Are You Interested," "Meet New People," and "Flirt With Me."
The
company now boasts more than 17m installations of its application.
Revenue, which is generated primarily through advertising sales, grew
to $871,324 in the third quarter from $533,257 in the previous quarter.
One trend helping SNAP is the widening gap between online traffic to
social networks like Facebook, which grew 84% over the past year in the
US alone, according to Compete.com. Match.com and AmericanSingles.com
were down 35% and 68%, respectively, from the previous year. FULL ARTICLE @ EQUITIES MAGAZINE
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