Friendable (OTC: FDBL), a mobile technology and marketing company, has clarified that an earlier revenue report represents the value of total orders rather than the total collected amount. The company reported that, following its January acquisition of Artist Republik and FeaturedX brands and offerings, the company released a phase II upgrade of the FeaturedX brand. Consequently, the company reported receiving 270 total gross orders, with a value of $169,865; FeaturedX was the main factor in reaching those numbers. FDBL noted that an estimated 17% of the total has been collected to date. According to the announcement, the FeaturedX platform has exhibited helped build a “revenue ramp” for the company that adds to the existing base and that will now be met with additional technology upgrades and features, including improving the communication tools between artists and the company, as well as between the “featuring artist” and the artist interested in purchasing their services. “It’s all about finding the right offering that leads each artist through the door, which is happening with Artist Republik and FeaturedX, providing the company with a roadmap of services that connect with each artist at a specific point in their journey with us,” said Friendable CEO Robert A. Rositano Jr. in the press release. “FeaturedX has become a lead generation tool allowing additional services to be promoted and offered, as well as building a revenue ramp that adds to the existing base. We have seen the formula, and it’s all about timing of these additional services being offered, and it’s typically based on the previous product/service purchased and needs of each individual artist at that time. I couldn’t be more proud and grateful to have such a dedicated and caring team. I believe we are on the correct path, and it’s all about staying the course, building revenue, keeping the debt capital out or to a minimum and moving our valuation up now that our past restructure debt is behind us. We will be continuing to raise capital under the terms of our qualified Regulation A stock offering, as well as operationally continuing to test, reorganize offers and adapt the tech to allow for our scale.”
To view the full press release, visit https://ibn.fm/hH9T1
About Friendable Inc.
Friendable is a mobile technology and marketing company focused on developing and identifying products, services and brand opportunities with mass market potential and scalability. The company published its first mobile application in the Apple App Store and Google Play Store in 2014 in the social networking and dating category. The Friendable app achieved more than 1.5 million downloads and top-10 worldwide rankings, and has led to celebrity-related marketing opportunities and various relationships with well-known music artists as well as up-and-coming independent artists. Friendable has since pivoted its business focus to its music artist offering, a one-of-a-kind 360 artist platform. The offering now includes music production/collaboration, music distribution (Spotify, Sound Cloud, Play Listing), livestream/live events, promotions, ticket sales, behind the scenes, merch designs/store/ship, tips, fan interaction, subscription offerings and more, which all equal revenue sharing and earning for all music artists. It is the company’s goal to become the new launch point for indie artists, as well as artists at all levels, as they build engagement, revenue and fans/followers. Launched on July 24, 2020, the Fan Pass livestream platform has proven invaluable for artists and fans alike as performances shifted from the stage to the screen, with its acquisition of Artist Republik and FeaturedX in January 2022. Friendable was founded by brothers Robert A. Rositano Jr. and Dean Rositano, who have more than 27 years of experience working together on technology-related ventures. For more information about the company, visit www.Friendable.com.
NOTE TO INVESTORS: The latest news and updates relating to FDBL are available in the company’s newsroom at http://ibn.fm/FDBL
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