Paltalk eyes more strategic acquisitions after ending 2Q with cash of $16.9M after ManyCam deal

Paltalk (NASDAQ:PALT) CEO Jason Katz says the company is looking for more strategic acquisitions following the successful takeover of the assets of live streaming software and virtual camera ManyCam.

Speaking to Proactive, Katz said the company ended its second quarter to June 30, 2022, with $16.9 million in cash and recently engaged Roth Capital Partners, LLC to assist with buy-side opportunities to accelerate its growth and profitability.

ManyCam will add to Paltalk (NASDAQ:PALT)’s subscription revenue, which dipped in the second quarter but was cushioned by a rise in advertising revenue, Katz added.

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