Key Metrics Increase Over 50% in March vs. February
NEW YORK, NY / ACCESSWIRE / April 20, 2015 / The Grade, an iPhone dating application released by Snap Interactive, Inc. (“SNAP” or the “Company”) (OTCQB: STVI), is excited to announce strong growth in its key engagement metrics. The Grade, which created a female-friendly experience by holding users accountable for their behavior through the assignment of grades, has just surpassed its 10 millionth total swipe, while seeing a 58% increase in swipes and a 81% increase in matches from February to March.
The Grade’s key engagement metrics, including matches and swipes, have been growing by approximately 50% each month since its launch in November 2014. Furthermore, The Grade has seen especially strong retention metrics in its core market of New York City with over 75% of new users in New York City returning to use the app after their first day. The number of average sessions on the app also increases from 8 sessions per user on the first day to 11 sessions per user on the second day. March in particular showed an acceleration of growth and swiping on The Grade, which remains free, at a time when competitors are focusing more on monetization.
Cliff Lerner, CEO of Snap Interactive and The Grade, says, “The mission of The Grade is to create a community of articulate, responsive, and high-quality daters. We built the app to help solve the key complaints raised by both male and female online daters, which were that women are generally unresponsive to messages from men, and men tend to write low-quality messages that frequently contain vulgar and hostile content. The Grade addresses this problem by providing a product offering that holds users uniquely accountable for their behavior through grades, and we believe the retention data reflects that.”
Lerner adds, “Proof that our concept is working is further shown through the high message response rate from women of over 56%, along with the infrequent use of vulgar and hostile content in messaging. Less than 1 out of every 200 messages from men contain what we define as low quality content. We believe accountability is necessary in online dating, and The Grade is at the forefront of providing it. We believe users on The Grade receive a superior experience, and this is most evidenced by the strong retention data in our target New York City market, with over 75% of New Yorkers returning to the app after their first day.”
Below are metrics for swipes and matches created on The Grade over 30-day intervals since the app’s launch in November 2014.
The Grade is currently being featured in the U.S. Social Networking category on the Apple(R) App Store SM in the ‘It’s a Date!’ and ‘Love & Romance’ collections. The Grade is currently free and available to download here in the App Store on iTunes or by searching “The Grade Dating.” More information about The Grade can be found at: http://www.thegradedating.com.
PR Contact:
Adam Handelsman
adam@specopscomm.com
212-518-7721
IR Contact Information:
IR@snap-interactive.com
About The Grade
The Grade is a female-friendly online dating application that holds users accountable for their behavior by using a proprietary algorithm that assigns letter grades to users ranging from “A+” to “F” based on profile quality, responsiveness, and message quality. Users with a grade of “D” or “F” receive a warning and instructions on how to improve their grade, while users who maintain an “F” grade are expelled. They do have the ability to “appeal” the decision by providing compelling reasons why they should be allowed back; however, re-entry is not guaranteed. The Grade has expelled approximately 500 users so far who received an “F” grade. By expelling low-quality users who receive an “F” grade, The Grade aims to create a community of high-quality users who are desirable, articulate and responsive.
About Snap Interactive, Inc.
Snap Interactive, Inc. develops, owns and operates dating applications for social networking websites and mobile platforms. The Grade is a mobile dating application catering to high quality singles. SNAP’s flagship brand, AYI.com is a multi-platform online dating site with over one million monthly active users. For more information, please visit http://www.snap-interactive.com/.
The contents of our websites are not part of this press release, and you should not consider the contents of these websites in making an investment decision with respect to our common stock.
Facebook is a registered trademark of Facebook Inc. Apple and iPhone are registered trademarks of Apple Inc. and App Store is a registered service mark of Apple Inc. Android is a registered trademark of Google Inc. The Grade is a trademark and AYI.com is a registered trademark of Snap Interactive, Inc.
Forward-Looking Statements:
This press release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential,” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with general economic, industry and market sector conditions; the Company’s future growth and the ability to obtain additional financing to implement the Company’s growth strategy; the ability to increase or recognize revenue, decrease expenses and increase the number of active subscribers, new subscription transactions or monthly active users; the ability to enter into new advertising agreements; the ability to diversify new user acquisition channels or improve the conversion of users to paid subscribers; the ability to anticipate and respond to changing user and industry trends and preferences; the intense competition in the online dating marketplace; the ability to release new applications or derive revenue from new applications; and circumstances that could disrupt the functioning of the Company’s applications. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
SOURCE: Snap Interactive, Inc.
ReleaseID: 427986
