myRete Revenue Surpasses $1 Million

(Ping! Zine) – myRete, Inc. launched WhosHere® in July of 2008. Three months later, the makers of WhosHere added in-app advertising. Monthly revenue has steadily increased, and with the close of its last month’s books, myRete has recognized more than $1 million in total revenue.

Current revenue streams include, in app advertising, ads-free premium accounts, virtual gifts and virtual plane tickets. Virtual gifts range from drinks to flowers to jewelry and provide the sender preferential standing on the recipient’s inbox. Virtual plane tickets allow users to move their WhosHere profile any where in the world and met more users.

Stephen Smith, founder & COO said, “We have taken an idea and created a service that millions enjoy. We are now generating revenue that will fuel our future growth. It’s been three years of hard work, but we are not stopping; a lot more features and platforms are in the plans”

WhosHere is the first mobile social networking app for the iPhone to let users meet new people and interact based on proximity. The application introduces a user to others with whom they have something in common. When a user finds someone interesting, they can send free text and image messages and make free VOIP calls. All this is done without disclosing any personal information unless the user chooses to provide it.

The most common uses of WhosHere include dating, making new friends, chatting with like minded people, looking for jobs, selling stuff, looking for clients, promoting bands, practicing foreign language skills with native speakers and virtual tourism.

Its growth in user adoption and monetization has enabled myRete to become profitable without institutional investments, demonstrating its long term sustainability and viability. WhosHere was a Social Networking finalist in Mashable’s 2009 Open Web Awards and was a 2010 Hot Ticket nominee for Best Bootstrap by the Northern Virginia Technology Council.

WhosHere runs on all Apple iOS devices: the iPhone, iPod touch and iPad. It is available for free download on Apple’s iTunes App Store and can easily be found