Social application provider SNAP Interactive, Inc. announced today that their Facebook application “AreYouInterested.com” broke 20 million total installs this week. Over 1 million new “AreYouInterested?” users were added in July. The July surge was an increase of more than 81% as compared to June. SNAP now has more than 25 million installs across all their dating applications.
In addition, SNAP monthly active users (MAU’s) surpassed 3 million on August 5, 2010. This is an increase of more the 100% over April 1, 2010 total of 1.26 million MAU’s.
“We’re delighted about surpassing the 20 Million user mark on ‘AreYouInterested?’ as well as by the increase in new users and the traffic growth that we’ve experienced in recent months,” stated SNAP president and CEO Clifford Lerner. “20 Million users is a significant number and gives us a user base that compares favorably in size with some of the largest dating sites in the world. More importantly, these users are continuing to visit the app and are really embracing some of the new features that we’ve launched recently. We added more than 1 million new users in July and saw steady increases in both Daily Active Users and Monthly Active Users on our ‘AreYouInterested?’ Facebook application. With the transition to a subscription model complete, we have been able to turn our attention back toward user acquisition and growth and are beginning to enjoy the rewards of those efforts. Those rewards are not only paying dividends in our traffic totals, but in revenue as well.”
Mr. Lerner also touched on the 10-Q that was filed by SNAP last week. The report showed that the quarter ending June 30, 2010 was the Company’s largest quarterly revenue ever with revenue growth of more than $1,243,000. This represents an increase of 34% over the previous quarter and a 58% year over year increase from Q2 2009 revenue of $784,242. He stated that “the current quarter is off to an even stronger start as our July 2010 gross cash receipts increased 15% from the June total.” July 2010 gross cash receipts totaled more than $564,000.
SNAP has developed two social dating applications built on Facebook® Platform. SNAP’s portfolio is highlighted by the AreYouInterested.com? brand which consists of AreYouInterested.com, the AreYouInterested? iPhone Dating Application, and the AreYouInterested? Facebook application. In addition to the Facebook projects, SNAP has also recently launched two applications on Myspace & Hi5.
More information on SNAP Interactive, Inc., its applications and the investment opportunity presented can be found on the Company’s website at www.snap-interactive.com.
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