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NEW YORK, NY--(MARKET WIRE)--Jan 13, 2009 -- SNAP Interactive, Inc. ("SNAP" or the "Company") (OTC BB:STVI.OB - News), a leading provider of online dating applications for social networking websites, announced today that it has more than doubled its programming capacity since September 30, 2008 and added highly specialized technical acumen in growing its already experienced and skilled team.
"As highly cost-conscious operators, we do not assume significant added expenses unless there is substantial business justification for the move," stated SNAP President and CEO Clifford Lerner. "By strategically growing our programming team we can now pursue next generation opportunities that position us for future growth and industry leadership. With our expanded capacity and technical strength we can be at the forefront of mobile dating applications, and we now have the resources necessary to further execute growth and monetization strategies across our existing Social Networks footprint. With a tightly managed cost basis we have built a base in excess of 16 million users; with this judicious investment in infrastructure development we can now realize the value of this user base and help pioneer the next phase of the Social Networking revolution.
"We maintain a long-term perspective for our business, and we believe very strongly a development capacity increase at this time is both 100% necessary for the execution of our business plan and best positions us to take advantage of significant potential opportunities to come."
To be added to the SNAP investor email list, please email justin.davis@cirrusfc.com with STVI in the subject line.
About SNAP Interactive, Inc.
Incorporated in Delaware and headquartered in New York, SNAP Interactive, Inc. is a leading provider of online dating applications for social networking websites. SNAP has developed two dating applications built on Facebook® Platform which have in excess of 16 million installations, and has also launched dating applications on MySpace Developer Platform & Hi5 Developer Platform. Our applications are called 'Are You Interested,' 'Meet New People,' and 'Flirt With Me.'
For more information visit www.snap-interactive.com.
Facebook® is a registered trademark of Facebook Inc.
Forward-Looking Safe Harbor Statement:
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially from forecasted results. These risks and uncertainties include product demand, market competition, fluctuations in advertising payouts, delays in application development, technical issues beyond our control, reliance on the various platforms that we build applications on, and risks inherent in our operations. For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov. All traffic statistics are recent averages.
CONTACT:
Cirrus Financial Communications, LLC
Justin K. Davis
(877) 977-STVI (7884)
Email Contact
http://www.cirrusfc.com
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