iHookup Social Inc (OTCMKTS:HKUP) reported that it bought the friendable” Brand and intellectual property assets. It intends to rebrand the popular app and the company itself with the new moniker in the coming months. The company will release the full terms of the acquisition deal through a related 8-k filing. The branding and name transition is anticipated to be seamless for more than 500,000 registered users. The deal also covers the trademark, registration and a set of related domains.

The expert view

Robert Rositano Jr., the CEO of iHookup Social said that over time the company’s research indicated they can extend to a much broader audience with a more appealing name and socially approved undertone. The company has enjoyed substantial success with the ‘iHookup Social’ brand. Still, there remains a vast, monetizable segment of the market that feels the brand as a reception to just one time connections. However, the company believes that its technology and app are meant for lasting connections of all forms.

The plans

Rositano of iHookup further added that the company transforms into friendabletm, it will expand beyond the dating and romantic successes with a well-planned and aggressive entry into new connections for a wide range of interests. It wants friendabletm to be the centre point of all things social. It should be a place where people can locate other individuals with the same interest and create a friendship group, and continually find friendabletm as the source for social connections.

The expectations

Rositano concluded that iHookup management believes that the planned expansion will offer increased monetization opportunities for the company’s proven and proprietary technology. It can be termed as the start of the friendabletm era. Launching iHookup Social 2.0 can be called as a new interesting period for the company.

In last trading session, the stock price of iHookup Social surged more than 14% to close the trading session at $0.00400.