ORLANDO, Fla., March 15, 2016 (GLOBE NEWSWIRE) -- Most Mobile Application businesses perpetually endeavor to expand their market share, crafting intelligent business models in search of new clients, customers and revenue. For some, the model will focus purely on volume of users and engagement in a product or service, opening up opportunities that include mergers and acquisition, brand exposure, or more points of sale.
For some app companies, they can more than double their potential market share by simply making their app available on more than one mobile platform. Many start with Apple’s iTunes app store, prove concept, and then head to the largest market in their industry, the Android operating system. By most estimates, Android has over 60% of the domestic mobile device market and more than 70% worldwide, giving an app a chance to more than double its growth.
Along these lines comes Friendable Inc. (Other OTC:FDBL), which has built its large 650,000+ user base over a short period of time, exclusively in the Apple iTunes app store. The Silicon Valley based tech start-up has positioned itself as the “Social Network” of the future, where “Everything starts with Friendship.” Friendable uses location based technology and a low-pressure ‘friends first’ way to connect with interested users who are “Friendable” for something now or in the future.
The app allows users to invite others for a “Friendable” meetup one-to-one or create events that various local users can join and participate in, unlike Facebook where everything trending represents past events. In the span of a two short years, the Company has created a significant user base in an industry where the number of members is a strong valuation metric. (Remember Facebook’s acquisition of messaging app “WhatsApp” for a lofty $19 billion dollars? This included placing a value on various individual assets of the company, including employees, technology and free users as a separate metric (users alone were purchased for about $42 per free user.) Source: Wall Street Journal http://on.wsj.com/1hwjJ5Q
Last week, Friendable, which garnered all those users on the Apple iOS platform alone finally rolled out their long-waited Android version of their app, providing an opportunity for most users of the Android app to finally “Be Friendable.” Not only does this now give Friendable a presence in the largest market but it also adds to its appeal at its Apple stronghold, where users may have been held back in their connection desires because friends using Android devices couldn’t get in.
They can now.
Future Android based user statistics will tell the market if Friendable is making hay in the Android world. But undoubtedly, with the upload of the app in the Google Play Store, Friendable has greatly increased its market opportunity in an industry where users are a tremendous part of the valuation of a business.
Android is truly a whole new world for Friendable.
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Cautionary Language Concerning Forward-Looking Statements
This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected by Friendable, Inc. The iTunes rankings should not be construed as an indication in any way whatsoever of the future value of the Friendable's common stock or its present or future financial condition. The public filings of Friendable, Inc. made with the Securities and Exchange Commission may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Friendable, Inc. cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, Friendable, Inc. does not undertake, and Friendable, Inc. specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
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