Friendable Inc (OTCMKTS:FDBL) shares were down 4.00% to $0.00480 on Wednesday but recovered 2.50% 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 $3.19 million at 663.55 million shares outstanding.
Formerly known as iHookup Social Inc, 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. The social media platform itself is 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.
Instead of using past events, Friendable focuses on future events and bridges its mobile community of users with the meeting of new friends, building relationships and connecting them with local venues or events tied to their interests. Its application is available on the Apple iOS platform and in iTunes stores, where Friendable offers a free version and a paid version of the application. Its application is also available on the Android platform and in the Google Play Store.
Last week, Friendable Inc reported total downloads of 39,179 with 9,284 originating from Apple’s iOS devices or the iTunes App Store, and 29,895 originating from Android or the Google Play Store as of September 9.
We feel these are strong numbers keeping in mind that we kept social media exposure and marketing costs low as we continue to measure app engagement to target future marketing spends,” remarked Friendable Inc CEO Roberto Rositano, Jr.
The company’s stock got a boost from reports revealing that the platform was featured in Daya’s music video for her hit “Sit Still, Look Pretty.” Daya is a 17-year old platinum recording artist from Pittsburgh, PA, with career highlights including over 50 million streams on Spotify and over 240 million video views on “Don’t Let Me Down.”
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