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Fundamental Applications Corp
Symbol FUN
Shares Issued 17,779,871
Close 2015-09-04 C$ 0.70
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Fundamental targets 10 campuses with Foro app

2015-09-08 07:45 ET - News Release

Mr. Richard Whitehead reports


Fundamental Applications Corp.'s wholly owned subsidiary, Foro Technologies Inc., will launch the Foro Student Marketplace on campuses in Canada and the United States. Ten locations will be launched with an initial user download target of 1,000 new users per location.

Foro Student Marketplace is an app designed to help college and university students buy and sell items. The product combines many of the features and value of popular on-line classifieds sites with the bidding engine and reliability of on-line auctioning to offer a unique and unrivalled marketplace experience. Foro Student Marketplace is designed to provide a safer shopping experience than other options because it is exclusive to students and allows buyers and sellers to see mutual Facebook friends. It is also far more convenient to use because it is accessible from anywhere on a mobile device or desktop and leverages existing smart phone features to make listing products fast and easy. In addition, it allows buyers and sellers to see how far away they are from each other in order to improve the likelihood of a quick and convenient exchange.

"Foro Student Marketplace is our flagship technology platform, and we are very excited to launch it on campuses across Canada and in the United States," commented Richard Whitehead, chief executive officer of Fundamental. "Peer-to-peer, regional on-line classifieds like Craigslist and Kijiji are popular amongst students because they fill a legitimate need, but on simple review they aren't particularly easy to use, or always safe. Foro takes this technology to the next level by making significant improvements. It's tailor-made for students who are heavy smart phone users and avid adopters of new technology. It's so easy to use that an item can be posted for sale in under 20 seconds. By providing users more information about buyers and sellers, they have greater control over the transaction experience, improving their personal safety. Unlike games or novelty apps, Foro is free to download and a free-to-use practical tool that can legitimately improve the lives of students."

This 10-campus launch is the first of many for Foro and will provide significant insight into user adoption rates and viral growth potential. Steps have been taken to allow product adoption on neighbouring campuses in addition to the schools targeted. The top-level goal of user downloads significantly drives forward the company's ultimate goal of making buying and selling among the global student community safer. By making a product that is easy to use and striving to deploy features that improve user safety, there is a real-world potential for Foro Student Marketplace to impact the growing concern of student debt, while improving student safety.

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