Friendable (OTC: FDBL), a mobile technology and marketing company, is reporting that its operational and public market cost reduction initiatives have resulted in significantly lower costs for the 2023 calendar year; these decreases have allowed the company to allocate resources on strategic rebranding of its Fan Pass Livestream platform, supporting its artists and marketplace, and maintaining daily operations. According to the announcement, reductions included Amazon AWS reconfigurations, monthly technology services fees, CTO salary and head count as well as cutting Artist Republik software development; the company also sought approval to file as an alternative reporting company, saving quarterly and annual review and audit fees. “We have a lot of successes to build upon, and when you’ve had time to analyze a company’s product or service, the data/metrics of market testing, the business model itself, and most importantly the time to reflect on a road previously traveled, the next steps become much more defined, focused and clear,” said Friendable CEO Robert A. Rositano Jr. in the press release. “Fortunately, we made a significant investment in technology with historical data and metrics to analyze our successes and failures, which have led us to our focus on the FeaturedX brand and reposition and repurpose of our livestream platform as well. As we take deliberate steps forward, it’s important we evaluate our progress.”
To view the full press release, visit https://ibn.fm/ZrgtO
About Friendable Inc.
Friendable Inc. is a mobile technology and marketing company focused on developing and identifying products, services and brand opportunities with mass market potential and scalability. Friendable 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 various music artist offerings, including a one-of-a-kind 360 artist platform. Fan Pass is the company’s livestream artist platform. Launched 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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