Welcome!

News Feed Item

FlikMedia, Inc. Acquires Flikdate™ and Adds to Senior Management

KAHULUI, Hawaii and SANTA MONICA, Calif., Aug. 4, 2014 /PRNewswire/ -- FlikMedia, Inc. (formerly, Crossbox, Inc.) OTCBB: FLKM announced today that it has completed the acquisition of Flikdate, Inc. (www.flikdate.com) through a merger transaction consummated on July 26, 2014. 

The Company announced that as a result of the Flikdate™ Merger, that they are now a digital media company focused on designing, developing and bringing to market proprietary and patented video applications for use on mobile platforms.  As a result, we changed our trading symbol from CBXX to "FLKM."

Flikdate™ has developed a patented software application for iOS and Android mobile devices to enable men and women to engage in live video social "dating" interaction on their smartphones, referred to as a "social discovery application" for online dating.  The technology permits users to go on a virtual date and quickly swipe - or "flik" in the parlance of the application – between multiple users at any given time. We believe that Flikdate™ is the world's first video speed dating platform, which was also developed with an internal monetization process whereby users create revenue events for the Company each time the video dating service is utilized.

FlikMedia owns intellectual property that we rely on for our primary mobile app, Flikdate™, including our proprietary software for integrated video delivery and mobile video monetization (USPTO registration US20140043426 A1). Our technology powers the Flikdate™ application.

Mr. Nick Bicanic, the Chief Executive Officer of both FlikMedia and Flikdate, stated "We believe that the intellectual property we have created enables the process of leveraging direct video interactions, and it has potential implications far beyond the social and dating interaction areas of digital media. We are enthusiastic about Flikdate™ and also believe that our technology will enable us to build Flick Media as a platform for video based interaction and communication, well beyond the internet dating industry."

Flikdate™ enables users to quickly test their "instant chemistry" through video on their smartphone. Face-to-face "dates" are intended to save users hours of time over legacy online dating sites and help avoid uncomfortable – or unsafe – real world encounters with members who do not match their profile and or their picture, making Flikdate™ an extremely safe "Dating Authentication" application for mobile users.

According to independent research firm IBIS World, the online dating industry historically generates revenue principally from monthly subscriptions (USD $2.0 billion in 2013). Mr. Bicanic noted, "We believe existing legacy subscription business model does not optimize revenue or user experience in the mobile environment.  Our Flikdate™ technology has been engineered for a clearly defined transactional revenue model to enable us to avoid a subscription based model entirely, through the sale of a virtual currency called 'Fliks.'  Fliks permit members to 'play or engage people they are interested in' by swiping through recommended members. Each swipe uses a Flik. 'Fliking' is designed to increase user engagement by being more like a game.  We believe the 'gamification' of dating is important to expanding our potential market audience and our revenue generating capabilities."

Mr. Arben Kryeziu the co- inventor of Flikdate™ and our Chief Technology Officer added "We believe that the nature of human behavior is to continue to look at potential matches and the individual user's selection process for people that they would like to actually chat and or meet with for a date strongly supports this incremental revenue model. Of course, some people will purchase more fliks than others, but we feel confident that our model will be more sustainable and potentially more lucrative than monthly subscriptions that turn over frequently."

According to independent research firm Newzoo, an international full service market research and consulting firm, focused completely on the games industry, the mobile casual gaming revenues surpassed USD $17 billion in 2013, or 23% of the global games market and in 2017, mobile game spending will surpass USD $35 billion, or 34% of the total market.

Mr. Bicanic stated, "The success that Tinder and Snapchat have enjoyed as a result of rapid consumer adoption as casual social interaction platforms is further evidence that we are in an engaging and potentially rewarding space with our proprietary video based application. However we believe they lack the transactional revenue model that Flikdate™ has integrated from its beginning."

Mr. Bicanic also noted "The early critics of Facebook™ did not believe that the company could transition into a mobile monetization model, and they have been proven wrong.  We believe that mobile online dating monetization has the potential to follow a similar customer utilization trajectory when compared to brands such as Facebook™ and Snap Chat™."

The Flikdate™ application has already received media attention, including appearances on  television via the Good Morning America Show, The Steve Harvey Show, and in print within GQ magazine and the USA Today newspaper publication.

Mr. Bicanic also stated, "We believe the fundamentals of the mobile online dating business are favorable. According to IBIS World, a leading publisher of business information since 1971, the dating services industry continues to expect strong demand in the next five years, and  the estimated revenue for the mobile dating market is expected to nearly double in the next five years, with rising smartphone adoption and new location-based features leading the market.  IBIS World also expects continued consolidation within the dating services industry which has risen throughout the past five years and concludes that industry consolidation is largely the result of increased mergers and acquisitions, as larger companies acquire well-established dating sites and companies to increase the density of their consumer bases."

In anticipation of the Flikdate™ acquisition, Crossbox, Inc. recently changed its name to FlikMedia, Inc.  Under the terms of the transaction, FlikMedia issued shares of our common stock to the former Flikdate™, Inc. stockholders representing 71.5% of our 45,151,287 currently outstanding shares.  The terms of the transaction are fully described in our Form 8-K filed with the SEC on July 29, 2014. 

In connection with the transaction, FlikMedia is now managed by the Flikdate™ executives, including Nick Bicanic, former CEO and co-founder of EchoEcho, a company funded by Google Ventures, and the inventor of the patent on which Flikdate is based. The Company is also led by Mr.  Olivier Chaine, whose 14-year career, included serving as Vice President of Web Operations at LowerMyBills.com, which was sold to Experian. Mr. Chaines value  to the Company  has been - in assisting the Company in the sales and marketing of their patented software-based technology.

Also in a recent related development, Mr. Arben Kryeziu has been named as the Chief Technology Officer of FlikMedia and Flikdate. Based on Hawaii and New York City, Mr. Kryeziu is a co-founder and investment committee member of mBloom Fund, LP a high tech venture fund funded by the State of Hawaii. mBloom is an investor in Flikdate™.

About FlikMedia, Inc.

FlikMedia is a mobile digital media company focused on designing, developing and bringing to market proprietary and patented video applications for use on mobile platforms. Flikmedia owns and operates Flikdate™, a social discovery engine that is based on the Company's patented technology. Flikdate™ is an iOS and Android based app that allows mobile users to engage in live video social dating in a "face-to-face" environment designed to test two individuals "instant chemistry." We believe that our founders have significant expertise in web-based video applications and hold five US patents on methods and systems for compressing, encrypting, streaming, and playing media data. FlikMedia intends to commercialize its video technology in several vertical industries, including job search, customer support, and gaming. In select instances FlikMedia also intends to white label its technology to third party businesses with an already established customer base in exchange for share of the revenue.

Forward-Looking Statements:

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this document include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, lack of consumer acceptance and demand for our products, insufficient working capital to expand our technology and engage in marketing of our products, intense competition from larger and more well-established companies, and other economic, competitive and technological factors involving the Company's operations, markets, services, products, and prices. With respect to FlikMedia, Inc. and its Flikdate™, Inc. subsidiary, the matters discussed in this document are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.

SOURCE FlikMedia, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
SYS-CON Events announced today that Adobe has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of co...
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet. In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
With over 720 million Internet users and 40–50% CAGR, the Chinese Cloud Computing market has been booming. When talking about cloud computing, what are the Chinese users of cloud thinking about? What is the most powerful force that can push them to make the buying decision? How to tap into them? In his session at 18th Cloud Expo, Yu Hao, CEO and co-founder of SpeedyCloud, answered these questions and discussed the results of SpeedyCloud’s survey.
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...