ACCESSWIRE – Nov 10 – Q3 revenues decreased 16% YOY to $2.9M. Net income for Q3 totaled $500k, the highest net income ever recorded by the Company. SNAP announced and closed a merger with Paltalk, a leader in online and mobile video chat, creating a significantly larger, well capitalized public entity with combined annual revenues estimated at $30M.
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by Eric M. Johnson
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MARKETWIRED – Aug 11 – Chat app Paltalk would merge into a newly formed wholly owned subsidiary of SNAP. Paltalk's stockholders would own a majority of SNAP's outstanding common stock on a fully-diluted basis. The purpose of this merger is to enlarge SNAP's product portfolio.
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MARKETWIRED – Aug 13 – Q2 total revenue decreased by $63k compared to Q1 2016 and 18% YOY due to a decrease in the number of active subscribers. Advertising revenue increased by $42k, or 37% YOY. Total expenses were reduced by $509K in the Q2. Net loss increased to 841k from 259k in Q2 2015. Snap kicked-off development of a new product targeting users 50+ and translated FirstMet service into nine additional languages to test opportunities in international markets.
Here is the earnings call transcript.
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MARKETWIRED – May 9 – Total Q1 revenue was $2.7M, flat as compared to revenue of $2.7M in Q4 2015. Advertising revenue increased by $113K, or 199.6% in Q1 2016 compared to Q1 2015. Q1 Net loss increased 23% YOY to ~1.5M.
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OPW – Mar 14 – On todays investor call, CEO Alex Harrington revealed that SNAP is going to be launching a new brand in Q3. We'll cover it here on OPW as soon as its announced. Are You Interested has now rebranded to FirstMet, and the company is seeing a significant increase in activity with the new brand. This is especially pleasing since they've not started their win-back campaign yet. SNAP is looking towards International markets. FirstMet is configured for translation and is live in Spanish. Portuguese is being evaluated. SNAP's product innovation will focus on mobile moving forward.
SNAP Interactive generated $12 million revenue in 2015, down 11% from 2014. EBITDA was nearly break-even, which is their best performance to date.
I was also on the call to talk about the mass transition of the industry to mobile and general trends. You can see the slides directly here. – Mark Brooks
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Post by Mark Brooks @ Courtland Brooks.
MARKETWIRED – Mar 7 – Snap Interactive has rebranded AYI, the company's flagship dating platform and one of the first dating apps to integrate with Facebook. FirstMet's apps are both newly rebuilt from the ground up with a more streamlined back-end infrastructure. FirstMet App targets singles over 35.
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MARKETWIRED – Mar 1 – Snap Interactive will hold a conference call at 4:30PM ET on March 14 to discuss its Q4 and full year 2015 financial results. Snap CEO Alex Harrington will be joined by dating industry expert Mark Brooks of consulting firm Courtland Brooks, who will provide additional insights on recent industry developments.
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ACCESSWIRE – Jan 13 – The Grade's Apple Watch app enables users to have quick access to their matches and messages right from the wrist, including robust browsing and messaging functionality. The app also includes the use of the dictation feature, which enables speech to text functionality.
ACCESSWIRE – Jan 5 – The Grade, a mobile dating app released by Snap Interactive, surveyed its users and found out that 84% of women feel safer about meeting a potential match when they can see 'Peer Reviews' before meeting the potential match. The newly launched 'Peer Review' feature allows users to provide feedback on other singles. Since 'Peer Review' launched on Oct 8th, ~15K reviews have been given.