By Khushboo Gupta
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3:30 pm Market Closing: Benchmark indices closed higher for second consecutive session, with the Sensex rising 167.48 points to 28468.75. The Nifty ended above 8800 level, up 43.70 points at 8821.70.
The market breadth was balanced today.
Sun Pharma, HDFC Bank, GAIL, ICICI Bank, Cipla and Tata Motors were top gainers while Infosys, Asian Paints, TCS, Hero Motocorp, Wipro, Bharti Infratel, Hindalco and Idea Cellular were under pressure.
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Friendable Inc.’s (OTC Pink: FDBL), Transformation from Debt to Equity Financing – Roadmap for Growth in 2017
Friendable, Inc. (OTC Pink: FDBL), is currently in discussions with high net worth individual investors and investment bankers who have the ability to assist with the transformation of debt into equity and with a capital raise that will produce up to 15 months of working capital, which is exactly what the Company needs to build value for our loyal shareholders.
See the full press release here: http://emerginggrowth.com/friendable-otc-pink-fdbl-provides-shareholder-update/
As the Company enters a pivotal 2017, management believes its restructuring of the Company’s current debt, as well as a simultaneous significant capital raise is the best path forward to achieve continued organic user growth of the Friendable app, new product roll out, and monetization testing in several areas of the business.
Robert A. Rositano Jr., Friendable, Inc. CEO stated, “We believe a $3-million-dollar financing with no debt will give the Company up to 15 months of operating capital that will allow the Friendable app, and soon Fan Pass Live, to deliver accelerated growth in a marketplace that has emerged as one of the most rapidly growing sectors; live streaming video.”
Friendable, Inc. (OTC Pink: FDBL) has invested heavily over the last several months to ensure Fan Pass (http://www.fanpasslive.com and http://www.fanpass.live) is Robust, user-friendly and appealing to their target audience.
Fan Pass, http://www.fanpasslive.com and http://www.fanpass.live, is designed to provide performing artists and celebrities with the opportunity to broadcast live, exclusive, uncut, and uncensored content to subscribers of their channel in real time. Upon its release, the platform will enable a unique and powerful connection between performing artists, athletes, celebrities, agents and their existing base of social media followers and fans by providing real-time access to events that would typically only be experienced by insiders, or individuals with VIP, on-location access.
Robert A. Rositano Jr., Friendable, Inc. CEO, stated, “The Fan Pass brand is expected to capture the essence of this new category of live, interactive broadcasting and the power of leveraging exclusive, premium content with an existing base of social media followers and fans. We believe Fan Pass, by coupling existing connections between millions of loyal social media users and the celebrities they follow with a platform to access live, engaging and exclusive content, will be uniquely positioned to develop recurring monthly revenue streams for both the company and the celebrities.”
Fan Pass is expected to feature exclusive, uncut and uncensored video streaming of celebrity events such as recording studio sessions, behind-the-scenes action on music video sets, special interviews and backstage access before, during or after events to provide the ultimate fan experience.
Friendable’s path to revenue with Fan Pass includes monetizing social media fans and followers of celebrities through a multi-level subscription based platform.
Friendable, Inc. (OTC Pink: FDBL is looking forward to a strong conversion rate, as each celebrity or artist will be required to market their Broadcaster channel to their social media fans and followers, further, generating subscription revenue based on conversion.
Celebrities that Friendable has had previous or existing relationships with have, upwards of 20-50 million social media followers.
Austin Mahone, a singer / songwriter that Friendable, Inc. (OTC Pink: FDBL) has worked with previously has 13 million fans on Facebook alone. If he were to convert only 2% of them with a revenue sharing monthly subscription of $1.99, that alone, would generate over $500,000.00 per month.
Friendable, Inc. (OTC Pink: FDBL) is working to secure commitments from celebrity artists as they move closer to launch and will announce these commitments as they are received.
Facebook’s Mark Zuckerberg has stated that he is “obsessed” with live streaming.
Could this be what pushes Friendable, Inc. (OTC Pink: FDBL) over the top?
Could they be the next social media takeover candidate?
By Khushboo Gupta
3:30 pm Market Closing: Benchmark indices closed range bound session on a flat note, with the Sensex rising 4.55 points to 28334.25 and the Nifty up 15.15 points at 8793.55.
About 1533 shares declined against 1311 advancing shares on the BSE.
TCS, Infosys and Wipro gained for third consecutive session, up 0.7-2.9 percent despite rupee gains against US dollar. Adani Ports gained 2.3 percent.
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However, ITC, ICICI Bank, Lupin, HDFC, Asian Paints and Dr Reddy's Labs were down 0.6-2 percent.