SAN FRANCISCO, Sept. 9, 2010 (GLOBE NEWSWIRE) -- Mimvi, Inc. (OTCBB:MIMV), a pure-play search, discovery and recommendation engine company and the first of its kind to index the world's mobile applications ("apps") and mobile content (web apps), announced today the release of a new audio interview with Company CEO & Chief Visionary Officer, Kasian Franks. Mimvi's technology is based on proprietary algorithms that enable consumer and enterprise users to conduct personalized searches to find mobile applications that best suit their needs.
Investors and interested parties may now access the audio interview in order to listen to the discussion at: http://smallcapvoice.com/blog/8-26-10-audio-interview-with-mimvi-inc-occbb-mimv/
In the interview, Mr. Franks discusses the unique opportunity Mimvi has in indexing the world's mobile apps, regardless of platform or device, from the Apple iPhone to Google Android devices and beyond. At present, the mobile app search industry is extremely limited given that the sale of a particular mobile device or smartphone is driven by the mobile apps that are able to run on that device. For this reason, in order to avoid driving the sales of competitor devices, phone makers are restricting mobile app searches to their own mobile apps that run on their make and model devices only. In the interview, Mr. Franks outlines how this narrowly focused marketplace presents an excellent opportunity for Mimvi's proprietary, unlimited search engine and recommendation capabilities. "With the Company's search capabilities, Mimvi competes squarely in the middle of the industry in which the pursuit of apps drives smartphone sales, such as those by widely recognized companies Apple Inc. (Nasdaq:AAPL) and Google (Nasdaq:GOOG), among others," said Kasian Franks, CEO & Chief Visionary Officer of Mimvi. "This essentially makes Mimvi a great Apple or Google derivatives play," he advised.
The Mimvi solution is also designed to be extremely user friendly. According to Mr. Franks, "Its all about user experience. MIMV focuses on mobile internet searches and if you're looking for a mobile app or content or products, we will find it for you. Mimvi provides Google-like searches with Amazon-like recommendations." He continued, "You're more likely to find what you're looking for at Mimvi in terms of mobile apps than you are anywhere else in the world. We already have consumers defaulting to us in terms of their search engine for mobile apps. We have a great user acquisition strategy and user adoption is doing very well right now in terms of the number of visitors and the number of inquiries or searches that are executed on Mimvi each month."
Additionally, the audio interview discusses the mobile apps industry's very large market potential given its likeness to that of the current day website industry. As the Company's website explains: "The demand for a single search engine for all mobile apps is analogous to that of searching for websites fifteen years ago. In 1996, there were around 200,000 websites being indexed." Today, that number has ballooned to approximately 240,000,000. Likewise, today there are about 400,000 mobile apps. In the future, Mimvi estimates there could be a few hundred million mobile apps around the world, each of which will need to be indexed for search and recommendation capabilities.
In the interview, Mr. Franks summarized Mimvi's position in the marketplace by stating, "In the future, every individual and every company will have a personalized, mobile app of their own, much like they have a blog, social networking profile or general website today. That's how ubiquitous the uptake and proliferation of mobile apps is expected to become." He continued, "In terms of indexing mobile apps so people can find what they need, we are doing the most effective job as the only pure play, public company executing on that space." Mimvi's technology was recently released in the summer of 2010 and the Company believes it is receiving excellent traction and feedback.
About Mimvi, Inc.
Mimvi, Inc. is a pure-play search, discovery and recommendation engine company and the first of its kind to index the world's mobile applications ("apps"), including mobile web apps. The Company's search engine technology enable consumers and developers to find any app regardless of platform or device, including apps for the Apple iPhone, Google Android, Blackberry, Windows and Nokia devices. The Company's technology is based on proprietary search and recommendation algorithms.
The demand for mobile apps is increasing at an unprecedented rate. By the end of 2015, it is estimated users will consume more than 25 billion mobile apps. Ultimately, Mimvi anticipates hundreds of billions of searches will be conducted through its unified search platform, enabling people around the world to find relevant mobile apps, mobile content and mobile products. Mimvi's business model is comprised of multiple revenue streams, including: sponsored search results, keyword and API marketplaces, mobile-enabled transactions and advertising, among others. Mimvi also plans to extend its platform to power partner sites and services. The Company's website can be found at http://www.mimvi.com
Mimvi, Inc. is headquartered in San Francisco, California.
This report includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events of future performance of the company. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results for the current fiscal year and beyond could differ materially from the Company's current expectations. Forward-looking statements are identified by words such as "anticipates," "projects," "expects," "plans," "intends," "believes," "estimates," "targets," and other similar expressions that indicate trends and future events. Factors that could cause the Company's results to differ materially from those expressed in forward-looking statements include, without limitation, variation in demand and acceptance of the Company's products and services, general business and economic conditions beyond the Company's control, timing of the completion and integration of acquisitions, the consequences of competitive factors in the marketplace, cost-containment strategies, and the Company's success in attracting and retaining key personnel, among others. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Additional information concerning factors that could cause actual results to differ materially from those projected is contained in the Company's filing with The Securities and Exchange Commission. The Company undertakes no obligation to revise or update forward-looking statements as a result of new information since these statements may no longer be accurate or timely.
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