Friendable Inc   (FDBL)
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    Sector  Technology    Industry Software & Programming
   Industry Software & Programming
   Sector  Technology

Friendable Inc

Business Description

The Company’s first product was launched under the same name as the Company, the Friendable app. The app provides a mobile social network for both iOS and Android mobile devices/operating systems and allows users to create one-on-one or group-style meet-ups for food, drinks, live music venues, or any other occasion, based on location. Since its inception in 2013, Friendable has generated more than 1 million downloads, 800,000 registered users, and approximately 600,000 user profiles, and has been featured in popular music videos such as the 2016 hit “Ain’t Your Mama” by singer Jennifer Lopez. The Company seeks to explore new opportunities for growth, partnerships, mergers or acquisitions in 2018.

The Fan Pass app has been designed to capture and monetize content via live streaming video. Video content will be the focus in which the Company will build content related assets and allow brands/social media influencers to unite. The app has the opportunity to provide fans to capture and/or view exclusive back-stage and uncensored video content from their favorite performing artists and celebrities (social media influencers). Fan Pass is currently working on its application, as well as establishing partnerships with some of the very same and prominent artists utilized by Friendable in the past. These artists include Jennifer Lopez, Austin Mahone, Meghan Trainor, Fetty Wap, and more. Through these previous celebrity partnerships, Fan Pass believes it can drive downloads and convert downloads to users, this approach allows Fan Pass to leverage built-in fan bases into the application’s initial viewership base, making quick and large scalability a real possibility.

Friendable is a mobile application where users can create meet-up events that can be shared to one person or multiple individuals.
Users can select which type of event they would like to create or attend, separated by categories like “Food,” “Movies,” and more.
Users with similar interests and locations will be matched together, and will then be able to chat with one another to coordinate a meet-up time and place.
Users can look up current events and send gifts to other users.
Users can friend other users to meet-up again, creating a social network of goers and adventurers.

Management believes that its Friendable app and brand, along with its existing feature set is in need of upgrades, expansion and more intelligent technology integration to stay competitive in the Social Networking category. With such upgrades being extremely costly and the existing user base growing only through search and organic word of mouth, Friendable intends to seek strategic partners that may provide new opportunities to create value for the Company’s shareholders by pivoting the app or its business focus in a new direction.

The Fan Pass Live Application (Development Project)

Fan Pass will be an online, mobile-based, video application that the Company believes will empower the end user by attracting brands, social influencers, artists, musicians and celebrities to build a significant content base and then deliver live, exclusive video content to their fan bases/app users. The app is to be available on both iOS and Android operating systems. Examples of content may include:

Branded Backstage access before, during or after an event
Recording studio sessions
Behind-the-scenes looks on music video, film, or photoshoot sets
On-set makeup or wardrobe trailers
Special interviews or one-on-one video sessions with celebrities
Daily looks into the lives of celebrities, artists, and stars
…and more VIP exclusive content

In addition, fans will be able to chat with other fans before, during, and after the live stream; view older, archived live videos; and subscribe to an individual broadcast instead of a channel. We believe that, especially for a large event like a music festival or concert, the option for fans to briefly purchase a broadcast or view an older broadcast increases the likelihood of added subscriptions.

The Friendable application is still pre-revenue based on its model to generates revenue through advertisements on the application, including sponsorships. Revenue in these areas can only be achieved through reaching a critical mass of users with daily, weekly and monthly active users that may be positioned for monetization.

The Company believes the Fan Pass application will generate revenue utilizing various avenues of pursuit:

brand sponsorship and/or monthly branded campaigns
social media influencers and promotion
content creation and development
advertising revenue from both live and archived videos
a monthly fee for special event channels
annual subscription fee for exclusive entitlements
a one-time fee for an individual broadcast
branded sales of merchandise, including t-shirts, hats, and more

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