SAN FRANCISCO, Sept. 14, 2010 (GLOBE NEWSWIRE) -- Mimvi, Inc. (OTCBB:MIMV), a pure-play search, discovery and recommendation engine company and the first of its kind to index the world's mobile applications ("apps") market, including mobile web apps, today announced its shares are trading on the OTC Bulletin Board. Shares of Mimvi, Inc. began trading on the OTCBB on August 31, 2010 under the ticker symbol MIMV.
CEO and Chief Visionary Officer, Kasian Franks, remarked, "All of us at Mimvi are very excited to see our Company's shares fully trading on the OTCBB. We look forward to continuing to build momentum as we benefit from the progress of executing on our business plan and receive recognition in the marketplace accordingly - things that benefit both the Company and its shareholders."
According to Mr. Franks, "Mimvi's move to the OTC puts the Company on target to add and maximize shareholder value. Such a step forward oftentimes represents the achievement of meaningful progress, adds credibility in the marketplace to the Company's ability to reach its stated goals and enables investment by a broader base of potential investors. This is just one of many such steps forward for Mimvi in 2010 and beyond," said Franks.
About Mimvi, Inc.
Mimvi, Inc. is a pure-play search, discovery and recommendation engine company and the first of its kind to index the world's mobile applications ("apps"), including mobile web apps. The Company's search engine technology will enable consumers and developers to find any app regardless of platform or device, including apps for the Apple iPhone, Google Android, Blackberry, Windows and Nokia devices. The Company's technology is based on proprietary algorithms designed to enable consumer and enterprise users to conduct personalized search, discovery and recommendation requests in order to identify mobile applications that suit best their needs.
The demand for mobile apps is increasing at an unprecedented rate. By the end of 2015, it is estimated users will consume more than 25 billion mobile apps. Ultimately, Mimvi anticipates hundreds of billions of searches will be conducted through its unified search platform, enabling people around the world to find relevant Mobile Apps, Mobile Content and Mobile Products. Mimvi's business model includes multiple revenue streams including revenue generated from sponsored search results, keyword and API marketplaces, mobile-enabled transactions and advertising, among others. Mimvi also plans to extend its platform to power partner sites and services. The Company's website can be found at http://www.mimvi.com. Mimvi, Inc. is headquartered in San Francisco, California.
Forward-looking Statements
This report includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events of future performance of the company. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results for the current fiscal year and beyond could differ materially from the Company's current expectations. Forward-looking statements are identified by words such as "anticipates," "projects," "expects," "plans," "intends," "believes," "estimates," "targets," and other similar expressions that indicate trends and future events. Factors that could cause the Company's results to differ materially from those expressed in forward-looking statements include, without limitation, variation in demand and acceptance of the Company's products and services, general business and economic conditions beyond the Company's control, timing of the completion and integration of acquisitions, the consequences of competitive factors in the marketplace, cost-containment strategies, and the Company's success in attracting and retaining key personnel, among others. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Additional information concerning factors that could cause actual results to differ materially from those projected is contained in the Company's filing with The Securities and Exchange Commission. The Company undertakes no obligation to revise or update forward-looking statements as a result of new information since these statements may no longer be accurate or timely.