Friendable Identifies New Opportunity Following TikTok CEO’s Meeting With US Congress March 23, 2023, Allocating Resources to Complete a TikTok Competitive App or White-Label Offering Leveraging Existing and Proprietary Technologies

The Company’s Fan Pass technology features share many similarities that TikTok offers users/artists and by updating design elements alongside feature tweaks, the Company will be in position to deploy a new app for the Company or white-label for partners seeking to compete.

CAMPBELL, CA, March 29, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Friendable Inc. (OTC: FDBL) (the “Company”), a mobile technology, marketing and software services provider, is pleased to announce an additional revenue opportunity and strategy to extend its technology to new mobile applications, web apps or products in general that can be rapidly deployed by leveraging its many years of software development and owned assets.

As TikTok has taken over social media in recent years the app has also come under tremendous scrutiny based on its roots or ownership being derived in China. Following the TikTok CEO’s presentation to U.S. Congress on March 23, 2023, which was labeled a disaster by Business Insider last week, Friendable’s team has taken a deep dive under the hood of its existing technology ownership as well as the features and functions of its Fan Pass Livestream Platform that was released in 2020 as a music artist centric app, of which TikTok itself boasts many new music artists launched from the social platform. 

“Our journey continues with even more knowledge, metrics and technology to build upon and after watching and listening intently to the market successes and failures as of late, the recent meeting between TikTok and U.S. Congress was most interesting as our paths are not too different. Seeing the rise, success and ability to attract users to a platform has amazed just about everyone around the world but following a not-so-good meeting it seems likely TikTok will be banned or sold, which created a real excitement for me and our team because we have understood for quite some time now that our tech, features and functions for Fan Pass are not too far off from becoming a TikTok clone or competitor,” said Robert A. Rositano Jr., Friendable, Inc., CEO. 

“This said, we believe there needs to be and will be a TikTok competitor and with the recent developments it seems it may come sooner than later. We must leverage our technology, prepare for this opportunity ourselves, or deliver a white-label managed solution for a partner company our team can support, should they be seeking to compete or become the next TikTok. Additionally, the Company has also secured a domain name that fits with another big name in video streaming and would also lend itself to a white-label offering to compete in this market as well, which I will detail in a future press release. In closing I’d like to remind everyone that it is never a straight line to success and although we’ve been fortunate to have seen many, this journey continues on our road to what I truly believe is more successes just waiting to come to light. The Company will continue to commit resources to our next release of, as well as taking care of these artists that have been so patient with the Company following its acquisition of FeaturedX in 2022. Thank you to all the believers, we will never give up,” concluded Mr. Rositano.

About Friendable Inc.

Friendable Inc. is a mobile technology, marketing and software services provider. The Company has developed a base of technologies that have been productized beginning in 2013 and is now leveraging these various technologies to power certain Friendable owned brands, as well as white-label offerings to companies or entreprenuers seeking to enter an existing market quickly and cost effectively, leveraging the many years of technology developed and owned by the Company. The Company is also involved in the marketing, development and identification of products, services or brand opportunities the Company feels have mass market potential and scalability.

Friendable published its first mobile application in the Apple App Store and Google Play Store in 2014 in the social networking and dating category. The Friendable app achieved over 1.5 million downloads, top 10 worldwide rankings, and has led to celebrity-related marketing opportunities and various relationships with well-known music artists as well as up-and-coming independent artists. 

Friendable’s most recent technology deployment aimed to service Indie Music Artists; including a one of a kind 360 artist platform. The offering previously included music production/collaboration, music distribution (Spotify, SoundCloud, Play Listing, Livestream/live events, promotions, ticket sales, behind the scenes, Merch designs/store/ship, tips, fan interaction, subscription offerings and more, which all equal revenue sharing and earning for all music artists. It has been the Company’s goal to become the new launch point for Indie Artists, as well as Artists at all levels, as they build engagement, revenue, and fans/followers. For 2023 the company has focused on providing these technologies to others seeking similar or the same functionality, with new skins, features or UI/UX that targets a new or existing market. 

Fan Pass, Fan Pass Live and its livestream artist platform, launched July 24, 2020, has proven invaluable for artists and fans alike as performances shifted from the stage to the screen. The Company acquired Artist Republik and FeaturedX in January 2022, and was unable to proceed with the technology assets acquired from Artist Republik, but continues to proceed with new versions of the Company expects to be released in 2023. 

Friendable was founded by brothers Robert A. Rositano Jr. and Dean Rositano, who have more than 27 years of experience working together on technology-related ventures.

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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 Company’s iTunes rankings should not be construed as an indication in any way whatsoever of the future value of 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 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.