SUNNYVALE, Calif., Sept. 22, 2011 /PRNewswire/ -- Mimvi, Inc. (
The groundbreaking technology, which has been under development for several months, and is referred to internally as ‘Project Jupiter,’ is part of a larger ‘augmented reality’ (AR) endeavor for the Company that is represented by a series of internal projects code named MAARs (Mobile App Augmented Reality). Powered by Mimvi’s proprietary mobile app and discovery recommendations, Jupiter represents the first of several upcoming technology announcements the Company is planning to deliver.
Currently in beta testing and scheduled for release in the coming weeks as a mobile app across both iOS and Android platforms, Jupiter’s technology enables anyone with a smartphone to discover relevant mobile apps based on two primary environmental factors: what they see and where they are located. By simply pointing a smartphone’s camera to any physical object, Mimvi’s proprietary algorithms will process what it sees, and in conjunction with the user’s location, smart phone and tablet users will then be presented with a series of meaningful mobile app recommendations.
Commenting on the breakthrough technology, Kasian Franks, Mimvi’s Founder and CEO, said: “This technology has the potential to revolutionize the search industry. Not only will it change the way we discover and shop for products and services, it will provide owners of mobile devices a tool which could enhance their lives on many other levels. The economic (or revenue), social and cultural opportunities that this initiative can provide are tremendous. Everyone associated with Mimvi is very excited by this new development.”
Mr. Franks went on to provide an example of how the technology could work in the real world, “The algorithms leverage environmental sensors inherent in smart devices. A smartphone user standing on a street corner anywhere in the world can point his or her phone at a particular location, for instance at a shopping mall, and up will pop mobile apps related to the stores in the shopping mall.”
Mimvi views this initiative as a fundamental component of its longer term vision and strategy to spearhead the evolution of the Mobile Internet. Michael Poutre, Mimvi’s President and COO, expressed his delight about the Company’s latest breakthrough: “Mobile apps are the new 'websites' and eventually, just as with websites, every business and individual will have their very own mobile app. Our technology will drive the evolution of this ‘megatrend,’ And this is just the tip of the iceberg. It represents the first of several new Mimvi initiatives which will shake up the industry and impact our lives in meaningful ways. I believe Mimvi’s proprietary technology will have a major say in the business world in the next five to 10 years. This is a very exciting time to be in the Mobile Internet industry, and Mimvi is at its forefront.”
Mr. Poutre continued, “Mimvi is helping to ease the transition from the fixed Internet to the Mobile Internet. By ‘easing the pain’ of consumers and businesses as they transition into the mobile world, we are establishing ourselves as the ‘go to’ company for all things app. The release of ‘Jupiter’ is a continuation, and direct result, of the internal changes we have made recently, and in line with our pledge to the street and our shareholders to stay at the cutting-edge of the mobile technology and innovation curve.”
For more information about Jupiter and Mimvi, see our website (www.mimvi.com) or contact Investor Relations at: (248)-561-7995.
Headquartered in Sunnyvale, California, Mimvi, Inc. (
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This Press Release may contain certain forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Mimvi has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect Mimvi's current beliefs and are based on information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause Mimvi's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. Mimvi undertakes no obligation to update or provide advice in the event of any change, addition or alteration to the information contained in this Press Release including such forward-looking statements.
SOURCE Mimvi, Inc.