PR NEWSWIRE – Aug 6 – SNAP Interactive quarterly revenue increased 8% to $5.2M compared to $4.8M for the comparable period in 2011. Net loss for the quarter was $1.2M. "We successfully launched the redesigned AreYouInterested.com product to all new users by the quarter's end without burning a meaningful amount of cash", said SNAP's CEO, Clifford Lerner. "We are pivoting from a focus on pure dating to social discovery. Social discovery is about discovering people and content based on common interests. Common interests are an incredibly powerful way to connect people and engage users with highly targeted content including commerce, events, music and videos."
The full article was originally published at MarketWatch, but is no longer available.
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