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"We have a unique freemium business model that has proven to work quite well, as we are a profitable company.
We offer a premium product (subscription), users can buy virtual currency and we serve advertising," says Kriegel.
"Our proprietary moderation tools create a safe, well-lit chat experience, whether you have 5 or 5,000 people chatting at same time," he adds.
Soft Bank has invested $6 million in Paltalk some years back, since then the company has been steadily growing with its unique "freemium" business model.
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The US based Paltalk was formed in 1998 and today it has 10 million users using various products and services."We have millions of active members with strong communities around the world.
We recently translated our software, website and apps into over 15 languages to strengthen our international offering to our already vibrant communities in non-English speaking countries," informs Kriegel, who recently left gaming company Zynga.
Yahoo chat messenger is still available to download and people can add friends to their messenger list.
However, the public chat rooms of yahoo are closed.
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