Paltalk, Inc. Announces Upgrade Release of ManyCam Version 8.0

Rhea-AI Summary

Paltalk, Inc. (Nasdaq: PALT) has launched ManyCam version 8.0, an upgraded live streaming software, just days after acquiring the asset. The new version introduces significant improvements including a new user interface, dark and light modes, enhanced rendering for high resolutions, and better virtual backgrounds. CEO Jason Katz highlighted the plan to promote ManyCam to Paltalk and Camfrog users, anticipating increased product appeal and user engagement. This release reflects the company's commitment to innovation in the multimedia communication sector.

Positive

• Launch of ManyCam version 8.0 enhances product offerings.
• Improvements such as dark/light modes and better rendering performance could attract new users.
• Strategic promotion to Paltalk and Camfrog communities expected to drive engagement.

Negative

• Risks in effectively marketing ManyCam and retaining user subscriptions exist.
• Potential challenges in maintaining listing on Nasdaq and generating revenue from applications.

Vast Improvements Over Prior Versions

JERICHO, NY, June 17, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Paltalk, Inc. (“Paltalk,” the “Company,” “we,” “our” or “us”) (Nasdaq: PALT), a leading communications software innovator that powers multimedia social applications, is pleased to announce the release of the Windows version of ManyCam 8.0, an upgrade to its recently acquired asset. 

ManyCam is a live streaming software and virtual camera that allows users to deliver professional live videos on streaming platforms, video conferencing apps and distance learning tools.

Jason Katz, Chairman and CEO of Paltalk, commented, “We are very excited that within days of acquiring the ManyCam asset, we have been able to launch ManyCam version 8.0. ManyCam version 8.0 offers quicker access, dark and light modes and overall rendering performance improvement for high resolution users as well as improved quality and performance with regard to virtual backgrounds. Users can now access a library of virtual backgrounds and playlists which we expect will help make the product more desirable and a better complement for Paltalk and Camfrog, which is a priority on our roadmap. Our team now plans to actively promote and cross-market ManyCam version 8.0 to our Paltalk and Camfrog communities.”

Visit https://manycam.com or https://www.paltalk.com for subscription information.

ManyCam version 8.0 has many improvements over the prior versions of ManyCam including:

●      New and improved user interface

●      Added dark and light modes

●      Overall rendering performance improved greatly for high resolutions

●      Improved virtual backgrounds

●      Added ability to apply blur to image backgrounds

●      Added downloadable library of virtual backgrounds

●      Improved performance and quality of virtual background model

●      Customizable titles and subtitles

●      Changeable fonts, colors and sizes

●      Titles are now resizable and movable

ABOUT PALTALK, INC. (Nasdaq: PALT)

Paltalk, Inc. is a communications software innovator that powers multimedia social applications. Our product portfolio includes Paltalk and Camfrog, which together host one of the world’s largest collections of video-based communities. Our other products include ManyCam, Tinychat and Vumber. The Company has an over 20-year history of technology innovation and holds 14 patents. For more information, please visit: Error! Hyperlink reference not valid.www.paltalk.com.

To be added to our news distribution list, please visit: http://www.paltalk.com/investor-alerts/.

FORWARD-LOOKING STATEMENTS:

This press release contains "forward-looking statements." Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential," or similar words.  Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, the Company’s ability to improve, market and promote the ManyCam software; the willingness of new and existing users to pay for the ManyCam software; the amount and timing of stock repurchases, if any, under the Company’s stock repurchase plan and our ability to enhance stockholder value through such plan; the Company’s ability to retain the listing of its common stock on The Nasdaq Capital Market; the impact of the COVID-19 pandemic on our results of operations and our business; our ability to effectively market and generate revenue from our applications; our ability to release new applications or improve upon or add features to existing applications on schedule or at all; risks and uncertainties related to our increasing focus on the use of new and novel technologies to enhance our applications, and our ability to timely complete development of applications using new technologies; our ability to effectively secure new software development and licensing customers; our ability to protect our intellectual property rights;  the use of the internet and privacy and protection of user data; risks related to our holdings of digital tokens, including risks related to the volatility of the trading price of digital tokens and our ability to convert digital tokens into fiat currency; and our ability to manage our partnerships and strategic alliances. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission ("SEC"), including the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's website at www.sec.gov.

All forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement was made, except to the extent required by applicable securities laws.

Investor Contacts:
IR@paltalk.com

Brian Loper
ClearThink
bloper@clearthink.capital
347-413-4234

FAQ

What are the key features of ManyCam version 8.0 released by Paltalk?

ManyCam version 8.0 features a new user interface, dark/light modes, improved rendering for high resolutions, enhanced virtual backgrounds, and customizable titles.

When was ManyCam version 8.0 launched by Paltalk?

ManyCam version 8.0 was launched on June 17, 2022, shortly after Paltalk acquired the ManyCam asset.

How does Paltalk plan to market ManyCam version 8.0?

Paltalk plans to actively promote ManyCam version 8.0 to its Paltalk and Camfrog communities to increase product visibility and user engagement.

What is the stock symbol for Paltalk?

The stock symbol for Paltalk is PALT.

What challenges does Paltalk face with ManyCam's launch?

Paltalk faces challenges in effectively marketing ManyCam and retaining user subscriptions, amid concerns about maintaining its Nasdaq listing.