Friendable Inc (OTCMKTS:FDBL) shares were up 4.76% on Wednesday to $0.00220 and flat in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.03. The company has a market cap of $1.91 million at 869.19 million shares outstanding.
Friendable Inc is a company that is engaged in the development and dissemination of a proximity-based mobile social media application that facilitates connections between people, utilizing global positioning system and localized recommendations. Its location-specific platform offers a discovery application that facilitates communication between two or more users on a one to one meeting or group style event-based meet ups for concerts, sporting events, coffee, movies and night out, among others.
Late last year, Friendable Inc shared that it has has invested heavily in a feature called Fan Pass Live, which is designed to provide performing artists and celebrities with the opportunity to broadcast live, exclusive, uncut, and uncensored content to subscribers of their channel in real time.
The Fan Pass brand is expected to capture the essence of this new category of live, interactive broadcasting and the power of leveraging exclusive, premium content with an existing base of social media followers and fans. We believe Fan Pass, by coupling existing connections between millions of loyal social media users and the celebrities they follow with a platform to access live, engaging and exclusive content, will be uniquely positioned to develop recurring monthly revenue streams for both the company and the celebrities,” said Friendable Inc CEO Robert Rositano, Jr.
In a recent press release, Friendable Inc shared more progress in the Fan Pass Live development, as it is currently looking for beta testers to try the app on iOS or Android for free. The first round of beta testing will start this month and the company is hoping to get feedback on the user interface, design, features and overall identifiable bugs as it works towards full release shortly following user feedback and Q&A testing.
Entering the beta stage of our Fan Pass Live app represents a significant milestone in our development cycle as we work toward full release in 2017. Part of our process is to have several groups of beta testers using the app and providing feedback, we look forward to your submissions to participate in our beta test program and welcome all comments, it is all part of releasing a more dynamic mobile application that was designed with real user feedback,” cited Friendable Inc CEO Robert Rositano, Jr.
Depending on how the testing process goes, the app is set to be released live sometime this year, providing a platform for artists and celebrities to connect their global fan base with exclusive behind the scenes action, typically designated for fans that pay a premium for an on-location experience. This is how Friendable Inc seeks to distinguish itself from existing social media platforms such as Facebook, Twitter, Instagram, and Snap which have more general target markets.
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