Friendable, Inc. (OTC PINK:FDBL), today announced that it has received an investment commitment in the amount of $1.615 million and in connection with this commitment, the Company has completed the acquisition of live streaming video technology from Hang With, Inc.

Under the terms of its agreement with Hang W/, Friendable will receive a royalty free, perpetual license to integrate and utilize the Hang W/ live streaming video technology within the existing Friendable app or outside the current app as a next generation product for specialized broadcast events.

Additionally, Friendable gains access to 8 million users who have signed up to utilize Hang W/’s live streaming video technology to attempt to convert them to Friendable users through cross marketing and promotion. The Company also believes access to these Hang W/ users will dramatically reduce its user acquisition cost.

Friendable expects that this new technology will allow the Company to extend its brand and begin to uniquely monetize the Friendable app.

These initiatives will require the development teams of both Friendable and Hang W/ to work together with an expectation of completing the roll out of this new technology under the Friendable brand by the end of the year.

More details will be announced in the coming days.

“Our team is fully committed to taking Friendable to the next level,” stated Friendable CEO, Robert A. Rositano Jr. Friendable Inc. CEO “With the additional investment commitment the company was able to complete its acquisition of the hang W/ technology providing us with the opportunity to move into a new aspect of our business. We are extremely excited for this next generation of the Friendable app for its user growth potential and monetization.”

“We believe the Hang W/ technology will create a differentiated offering for our brand in the Live Video Streaming marketplace and allow the Company to capitalize on our many relationships in various celebrity circles,” concluded Rositano Jr.