OPW – June 3 – Alex Harrington, CEO of Snap Interactive, is a former investment banker and gave an awesome overview of what acquirers are generally looking for, and traps to avoid. Katherine Knight, Director of Marketing at Zoosk gave tips on app marketing. …and lots more.
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Post by Mark Brooks @ Courtland Brooks
ACCESSWIRE – May 25 – Snap Interactive CEO Alex Harrington will present at the iDate Mobile Dating Industry Conference at 11 a.m. PT on Friday, June 2, 2017 at The Sportsmen's Lodge Events Center in Los Angeles. The conference will be held May 31-June 2, 2017. Mr. Harrington will present on M&A and consolidation trends in the dating industry. SNAP has recently completed a merger with A.V.M. Software, and is exploring business combinations in live video and interactive dating.
See full article at Snap Interactive website
ACCESSWIRE – May 11 – Total revenues of ~$6.7M increased 36% YOY. Subscription revenues increased 41.8% compared to the same period last year. Net loss from operations was ~$1M. Snap has founded an Innovation Lab to support growth initiatives in the live video markets; beta launched 50more, a new dating app targeted at the market of users 50 years and older; and integrated dating functionality into Paltalk to introduce FirstMet membership to video chat users.
See full article at Snap Interactive website
ACCESSWIRE – Apr 13 – "Microtransactions are the newest tool we are utilizing to further monetize users on our video platforms and increase lifetime value," commented Alex Harrington, Snap's CEO. "Since launching this initiative, we have begun to monetize users who have not previously subscribed to a premium membership."
See full article at Snap Interactive website
ACCESSWIRE – Mar 28 – Snap completed merger with Paltalk on Oct 7, 2016. Total revenues increased 4.3% in 2016 as compared to 2015. Total post-merger revenues for Q4 2016 increased 51.5%, compared to total pre-merger revenues in Q4 2015, reflecting the benefits of the merger. 2016 net loss was ~$1.5M, which included ~$1.1M of non-recurring Merger expenses. Snap has introduced a beta launch of a new dating product, 50more, in the Q1 of 2017, which targets a growing segment of the dating market of users 50+. The company integrated dating functionality into Paltalk to cross sell FirstMet subscriptions to video chat users, and began work on a new live video chat consumer application.
See full article at Yahoo Finance
BUSINESS INSIDER – Feb 10 – Investors likely wanting a piece of Snap Inc.'s impending IPO sent shares of Snap Interactive up as much as 164%. Snap, the parent company of Snapchat goes public in March. Here's a chart from Yahoo Finance that shows STVI's rise after Snap Inc. filed its IPO paperwork with the SEC.
See full article at Business Insider
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This post also appears on InternetDatingInvestments.
SATPRNEWS – Feb 7 – Snap Interactive has launched the first of many expected integrations of its array of video chat and dating apps. The company released an update to its Paltalk app that includes navigation to a new "Dating" section, which highlights the new affiliation of FirstMet and Paltalk as a result of the merger. Paltalk users are encouraged to register for FirstMet to connect with users seeking romantic relationships.
See full article at InternetDatingNewswire
ACCE
SSWIRE – Jan 9 – SNAP has completed its previously announced 1-for-35 reverse stock split. SNAP's common stock will continue to trade on the OTCQB market but its trading symbol (STVI) will have an added designation of "D" for a 20 business day period following the reverse stock split (STVID). After 20 business day period, the symbol for SNAP's common stock will revert to "STVI". As a result of the reverse stock split, every 35 shares of SNAP's common stock were combined and reclassified into a single share of common stock and the number of shares of common stock that SNAP is authorized to issue was proportionally reduced from 500M to ~14.3M. A reverse stock split is a process by which shares are merged to form a smaller number of proportionally more valuable shares.
See full article Internet Dating Newswire
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This post also appears on InternetDatingInvestments.
ACCESSWIRE – Dec 19 – Snap Interactive, an online video chat and dating provider, has filed the Company's Form 8-K/A related to its previously announced merger with Paltalk, presenting the pro forma combined financials of the post-combination company and the historical financial statements of Paltalk. Pro forma combined revenues for the nine months ended Sep 30, 2016 were $21.8M, as compared to pre-merger Snap for the comparable period of $7.8M. Combined Net Income and Adjusted EBITDA was ($868k) thousand and $33k, respectively, as compared to pre-merger Snap ($2,293k) and ($622k) thousand, respectively, demonstrating improved Adjusted EBITDA profitability.
See full article at Snap Interactive website
