In last trading session, the stock price of Friendable Inc (OTCMKTS:FDBL) surged more than 165% to close the day at $0.0121. The gains came at a share volume of 55.72 million compared to average share volume of 4.97 million.
The buzz
Friendable, the mobile-social network reported that as of April 2016, its app has recorded total downloads of more than 1 million. As per the nationally accepted and industry defined reporting system standard “App Figures”, as of April 17, 2016 Friendable downloads now stands at a total of 1,028,215. It reflects a massive surge of more than 550% over the months of January and February. Moreover, the internal data reveals that the total registered users count came at 708,760, continuing to authorize broad acceptance of the application and its brand.
Robert Rositano Jr, the CEO of Friendable, reported that the app is really starting to get traction and the user reactions and reviews to location specific low pressure prospects to acquaint with new friends have been great. Registered users and app downloads are two means the market uses to measures success. So, the recent numbers are both rewarding and validating.
The update
Friendable finalized a deal with a leading advertising agency with a prime focus on strategic celebrity associations to seek out similar deals and related prospects on behalf of the company and its brand. The terms of the deal call for a series of meaningful celebrity deals including the addition of the ‘Friendable’ brand into Music Videos in coming six-months.
This could be a significant achievement for Friendable because it brings validation to the company’s brand, and also helps bring in the potentially large base of fans for each celebrity association. As the download numbers continue to improve and validate the acceptance of the brand, the company could appear attractive to some of the leading firms in the space.
