Paltalk Introduces Private Rooms to Give Users Ability to Connect with Friends and Family

Paltalk Continuing to Add New Features and Functionality to its Social Video Apps

Jericho, NY, Jan. 12, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Paltalk, Inc. (“Paltalk”, “we,” “our,” “us” or the “Company”) (OTCQB: PALT), a leading communications software innovator that powers multimedia social applications, today announced that it has launched “private room” functionality on its Paltalk platform in beta. Private rooms are currently available on the desktop application and Android platforms and are expected to be available in iOS during the first quarter of 2021.

“We continue to meet the changing needs of our users by providing them with new features like private room functionality. Users will now be able to set up their own unique URL private room that can be used again and again without payment of any kind. Users can invite up to 12 friends to video chat for unlimited use, unlike other similar offerings which have a 40-minute time out for free users,” said Jason Katz, the Company’s Chief Executive Officer. “The ongoing global pandemic has created demand among our users to not only connect with new people but also to host gatherings with friends and family that they are not able to see in person. We expect our user base to take full advantage of this new feature because of its excellent audio and video fidelity as well as the tremendous value proposition and anticipate that as the feature gains popularity, these users will utilize other paid services offered by the Company.”

About Paltalk, Inc. (OTCQB: PALT)

Paltalk 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 Tinychat and Vumber. The Company has an over 20-year history of technology innovation and holds 18 patents. For more information, please visit: http://www.paltalk.com.

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 impact of the coronavirus outbreak 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, such as Props tokens, to enhance our applications, and our ability to timely complete development of applications using new technologies; our ability to effectively integrate Props tokens into our existing applications; our ability to effectively secure new software development and licensing customers; 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.

Contacts:

IR@paltalk.com

Stephanie Prince

PCG Advisory

sprince@pcgadvisory.com

646-863-6341