Friendable Inc. (OTC Pink: FDBL), $1.6 million Investment – Completes Acquisition with 8 Million Users
Could this be what pushes Friendable, Inc. (OTC Pink: FDBL) over the top?
Could they be the next social media takeover candidate?
See the Full Press Release and other stories on Friendable at EmergingGrowth.com
Friendable, Inc. (OTC Pink: FDBL) announced today that it has received an investment commitment in the amount of $1.615 million and has completed the acquisition of live streaming video technology from Hang With, Inc.
Friendable, Inc. (OTC Pink: FDBL) announced that they are in negotiations to acquire this technology to extend their brand and boost users last week where the CEO stated: “We are viewing this opportunity in two parts, an extension of the Friendable app and the next generation of the Friendable brand. We believe that with a successful acquisition of this technology, Friendable will reach new heights and begin to monetize.”
Under the terms of its agreement with Hang W/, Friendable will receive a royalty free, perpetual license to integrate and utilize the Hang W/ live streaming video technology within the existing Friendable app or outside the current app as a next generation product for specialized broadcast events.
Additionally, Friendable gains access to 8 million users who have signed up to utilize Hang W/’s live streaming video technology.
Friendable, Inc. (OTC Pink: FDBL) expects that this new technology will allow the Company to extend its brand and begin to uniquely monetize the Friendable app.
The company further stated that this specific technology, they believe will allow the Company to begin to monetize the Friendable app.
More details will be announced in the coming days.
Robert Rositano Jr. Friendable Inc.’s CEO stated: “Our team is fully committed to taking Friendable to the next level, We are extremely excited for this next generation of the Friendable app for its user growth potential and monetization.”
“We believe the Hang W/ technology will create a differentiated offering for our brand in the Live Video Streaming marketplace and allow the Company to capitalize on our many relationships in various celebrity circles,” concluded Rositano Jr.