ACCESSWIRE – Dec 22 – Lauren Urasek, The Grade's ambassador, has signed a deal to develop a series with ABC Signature based on her book, Popular: The Ups and Downs of Online Dating From the Most Popular Girl in New York City. The book chronicles Urasek's online dating experiences. The Grade, owned by Snap Interactive, is a female-friendly mobile dating app that holds users accountable for their behavior by assigning letter grades to users ranging from "A+" to "F" based on profile quality, responsiveness, and peer-reviews.
Category: SNAP Interactive
Snap Reports Positive Net Income On Lower Revenue In Q3 2015
MARKETWIRED – Nov 10 – Total revenue decreased 16% YOY to $2.9M. Net income totaled ~$0.5M, the highest net income ever recorded by the company. Snap Interactive operates dating apps – AYI and The Grade.
See full article at Snap Interactive
Dating App, The Grade, Signs Lauren Urasek As Brand Ambassador
ACCESSWIRE – Oct 22 – Lauren will also serve as the inaugural member of The Grade's advisory board. After being named the most sought-after woman in NYC by New York Magazine, Lauren has become the face of online dating. She is also the author of the book "Popular".
See full article at Baystreet.ca
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Snap Interactive Appoints Alex Harrington As CEO
ACCESSWIRE – Oct 14 – Founder and former CEO Clifford Lerner steps down to head mobile dating app, 'The Grade'. As President of The Grade, Mr. Lerner's primary responsibilities will be to scale The Grade's user base, oversee its growth and drive market penetration. Alex Harrington joined SNAP in 2014 as COO and CFO. Previously, Mr. Harrington served as CEO of MeetMoi, a pioneer in the mobile dating industry, which was sold to Match.com.
See full article at Baystreet.ca
Match Must Use Size To Overcome Challenges Facing Public Dating Services
DEAL REPORTER – Aug 24 – OPW – Aug 24 – As The Match Group moves toward an IPO, it must use its size advantage to overcome the difficulties that have plagued other dating companies that have gone public. FriendFinder traded on NASDAQ and was delisted in 2013 for failing to trade above the USD 1 level. Zoosk filed for an IPO in 2014, intending to raise more than USD 100m, but withdrew the application citing unfavorable market conditions. In the past 2 years, shares of Snap Interactive have not been above the USD 1 mark with stock plunging 85%, and Spark Networks has seen its stock decline 60%, to USD 3.11. Chinese dating firm Jiayuan International has seen its US-listed stock rise 22% in the last year, however, their success is partly a by-product of China's booming economy. "Match's size will be an advantage over other publicly traded dating entities," said Mark Brooks, an industry consultant with Courtland Brooks. Its scale and brand awareness means it probably pays much less to acquire new users. “This is very clearly a game of size,” Brooks asserted, adding that Match.com does not have to pay search giant Google for every new member because it has built a brand through time, helped by TV and radio advertising.
by David B. Wilkerson & Marina Temkin & Louise Bleakley
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Snap Interactive Q2 Results: Revenue Down 7.6% YOY
MARKETWIRED – Aug 13 – Q2 revenues decreased 7.6% YOY to $3.2M and subscription revenue decreased 2.4% YOY to $3.1M. The operating loss was $0.2M, reflecting an improvement as compared to a loss of $0.3M in Q2 '14. Active subscriber count was flat (98K). The Grade app saw an increased user activity with ~8M swipes. (81% increase from Q1 '15)
See full article at Marketwired
Snap Interactive Q1 2015: Revenue Down, Net Loss $1.2M
MARKETWIRED – May 15 – Q1 revenues decreased 3.2% YOY to $3.2M. Net loss was ~$1.2M compared with net loss of ~$900K in Q1 2014. Snap reported increased active subscriber count to ~103K from ~101K in Dec 2014. Snap‘s newly launched dating app “The Grade” exceeded 8M swipes.
See full article at Digital Journal
The Grade Surpasses 10M Swipe Milestone
ACCESSWIRE – Apr 20 – The Grade, an iPhone dating app from Snap Interactive, has surpassed 10M swipes. The app holds users accountable for their behavior through the assignment of grades. Users with a grade of "D" or "F" receive a warning and instructions on how to improve their grade, while users who maintain an "F" grade are expelled.
Snap Interactive Q4 2014 Report
MARKETWIRED – Mar 5 – The Q4 2014 revenue was $3.3M, up 11% YOY. Net loss was $248K, down 62.5% YOY.
See full article at Marketwired
Snap Interactive Announces $3 Million Senior Secured Convertible Note Financing
PR NEWSWIRE – Feb 17 - Snap Interactive has completed a private placement of a 12% Senior Secured Convertible Note in the amount of $3M to Sigma Opportunity Fund. The note is convertible into shares of common stock at a fixed price of $0.20 per share. The company intends to use the net proceeds from the offering for general corporate purposes.
See full article at Marketwatch
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