Social Dating App Company SNAP Interactive Raises $8.5 Million

Posted Jan 14, 2011

SNAP Interactive is a publicly listed company that develops social dating applications and services such as AreYouInterested.com. SNAP is going to raise $8.5 million in a private placement transaction. SNAP agreed to sell around 4.25 million shares of common stock to institutional investors at $2 per share and warrants to purchase approximately 2.125 million additional shares of common stock. SNAP has seen over 30 million installations of their social dating applications on Facebook and the iPhone.