SOCIAL NETWORK
SOCIAL NETWORK
FunHi.com Social Network Breaks One Million Dollars; Online Club Goes Invite Only
FunHi.com Social Network Breaks One Million Dollars
Version 1.0 Launches FunHi Out Of Beta; Online Club Goes Invite Only
NEW YORK--(BUSINESS WIRE)--June 14, 2004--FunHi, online's most elite social network, announced that in its first five months of operation it has a combined value of over one million dollars in virtual gifts received by members, account credit and gift shop inventory. This achievement by CEO Ray Savant is a direct challenge to the start-up paradigm of the dot com era. Because of the success and the crowds it attracts, the site's new version 1.0 is implementing a velvet-rope door policy. There is now a virtual outside waiting area for people seeking to join the FunHi community. The invite-only site now closely models the exclusivity of a real urban after hours club.
"Our vision was to make FunHi a commercial hit as an online, after-hours style club. The members are indeed very plush, elite and attractive. FunHi has the best looking people online in its club every night. The competition is fierce. Members worry about how they look next to each other. They want a business model that works without selling ad space. We have to avoid the humdrum of a portalized consumer brand." says FunHi's President/CEO Ray Savant.
FunHi LLC launched the beta version of its site in December of 2003. Its "star" system quickly made FunHi the favored spot for a global crowd of cash rich youth. Having innovated its famous virtual loot system, FunHi earned a two page feature article in Wired News within the site's first three months. FunHi's virtual loot system encourages members to purchase virtual gifts with actual cash. Partnered with Mikusoft LLC and MatrixM Inc., it has branded a new mobile media channel, called FunHi 100, initially catering 100 selected FunHi stars to over 100 million cell phones world wide.
By contrast with service based sites, offering little more than enhanced empty space, FunHi's hip and exclusive cult following is built on anticipation of designer innovations. Recently FunHi launched a proprietary casting events section complete with monetized voting and introduced prize tickets and role-playing based invitations. Now going invite-only, FunHi is turning the club over to its elite members and letting them shape the crowd.
"We know our innovations are going to influence other sites and we're heavily engaged in the patent process. However, last month's new feature isn't going to keep our crowd excited for long. They are on FunHi to become stars and to be surprised by what we come up with next. Take a hundred bucks per capita, ten thousand members and try the math. Some of our members have actually spent over a thousand dollars on gift shop credits alone, and they stay with us because of the suspense." says FunHi's Vice President of Business Development, Joshua Selman.
Ray Savant is also the President/CEO of FunHi's parent company Revenant Global LLC. As such, Mr. Savant is driving vision and product innovation across all of Revenant Global's brands. Joshua Selman will step up to the role of Vice President, Business Development for Revenant Global LLC. Mr. Selman will work on strategy, integration and branding initiatives. The parent company is expected to announce its board of advisors in the very near future.
About FunHi LLC
FunHi LLC, owner of FunHi.Com, is a leader in next generation social networking. Its unique features, its integration with mobile media portal MatrixM.Com and its technology platform powered by Mikusoft LLC are furthering its goal to provide the hottest new social networking scene possible.
About Revenant Global LLC
Revenant Global LLC is the parent company of 100% owned subsidiaries FunHi LLC, Mikusoft LLC and Risque Club LLC. The company has operations in social networking, game and application development, new media content creation and publishing.
For further information, please contact: Joshua Selman, FunHi LLC, +1-866-645-8763, Ext. 2, Press@FunHi.Com, for FunHi.Com.
Contacts
FunHi LLC
Joshua Selman, 866-645-8763, ext. 2
Press@FunHi.Com
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