Friendable Inc (OTCMKTS:FDBL) Befriends Jennifer Lopez

Small cap Friendable Inc (OTCMKTS:FDBL) has made international news after appearing in Jennifer Lopez's new music video for her hit song "Ain't Your Mama." Shares initially spiked on the news, but pulled back after investors digested the headlines. According to Fox, it turns out that when the music video ran low on cash due to J.Lo’s “grand” plans, her team had to scramble to broker a last-minute deal to raise more money. According to sources:

Insiders told Page Six that the Kluger Agency, which arranges deals between brands and artists, got a call at the eleventh hour. To attract additional funding, the team hustled to bring in ­social-networking app Friendable, then reworked the shoot’s script to integrate the product into the storyline.

So the real story is that any company could have jumped on board. They just had to pay. In addition to Friendable, it said that "there were so many shoehorned into its five minutes that music site Spin cataloged nine brands in the clip — from Lavazza coffee to ­BodyLab weight-loss supplements."While many investors greeted the video and the company's press release with skepticism (us included), it was a good move for FDBL in building brand awareness that will likely pay dividends for the company and its shareholders. We know that one of the hardest things for a small company to do is get noticed. Here, FDBL is being proactive. If the goal is grow Friendable, having something to do with Jennifer Lopez certainly won't hurt. This deal came about because of Friendable's relationship with The Kluger Agency (TKA). FDBL CEO Robert Rositano said:

"We feel extremely fortunate to have this opportunity to work with TKA, and $500,000 is a significant commitment to any marketing roll out. We expect to expand our awareness and generate an influx of new user downloads with this strategy, as well as significantly increasing brand awareness by allowing Friendable to tap into tens of millions of fans for each celebrity relationship we roll out. It is widely known that most trends are often driven by Hollywood influences, so when I was contacted by TKA and told they had identified the Friendable brand as a target relationship and had also worked on successful strategic relationships with Plentyoffish.com and Tinder, we knew the power in the business combination would be substantial."

FDBL describes itself as “the social network of the future, where connections are based on future opportunities rather than past events and all are location specific, nearby. The Friendable app takes all the pressure off and makes it simple for users to make connections and meet new friends using shared interests and location. These user interactions will allow Friendable to offer sponsorship opportunities to local venues/businesses and begin to generate advertising revenue by providing these venues and or businesses with the opportunity to reach potential customers when it matters most; when they are nearby and looking for something to do or have a great idea of what to do and need others to join.”Currently trading with a market cap of $5.4 million, FDBL has exploded up the charts on massive volume as the result of a coordinated promo campaign. The key now is how will Friendable leverage the music video and its relationship with TKA. Did the company blow the entire $500k on just the music video? How will it pay dividends for shareholders? How will the company leverage the relationship with Jennifer Lopez? These are some of the questions we'd like to get answered. We will be updating Insider Financial as soon as we know more. For continuing coverage on FDBL, sign up for our free newsletter today and get our next hot stock pick!Disclosure: We have no position in FDBL and have not been compensated for this article.