Oblong Inc [NASDAQ:OBLG] was a top performer on Friday and closed the day with gains of 27.81%. Besides Friday’s price action, the company has been gaining upside momentum for a few weeks now.
The trigger behind it all is the company’s announcement a few weeks ago that it had been granted 7 patents in 2020, cementing its leadership in the multi-streaming business. The company further stated that through its Mezzanine™ platform, people can work together both remotely and within office settings.
Commenting on the new tech development, CEO Peter Hoist stated that with businesses coming back to normal while adapting hybrid forms of workplace collaboration, the company expected that the multi-share business will expand significantly.
He added Oblong’s definition of multi-sharing was the creation of an environment whereby distribute users can share, view, and work by streaming multiple content. He added that with the Mezzanine™, and the patents that the company has accumulated this year, it was well positioned to not just maintain its leadership, but to also continually make improvements that push the boundaries in the conventional conference room environment.
The company also announced that with its updated patents, it had strengthened its stake in related technologies, designs and procedures that will make remote working even more efficient in the long run.
The company is actualizing a strategic approach that will see it meet the demands of multisharing even in the post-pandemic world. Some of the market demands it is targeting include synchronous software communication, and a more efficient user interface. Through its patents the company takes care of the following areas of the market:
One of the areas it covers is in collaborative work environments for users in-room and remotely. The patents aim to make it easier for people to work with multiple screens while accessing multiple sources of content.
The patents also cover the methods used in fast data transfer and simultaneous user interaction. The patents also cover the ability to make contactless interaction in distant environments. The patents also make it easy for the company to deal with multiple information processing in environments that make it possible for improved capabilities on all Oblong products.
Touching on the improved capabilities and the areas covered by the patents, the CEO said that the company listens and understands customer needs and is working to meet them post-pandemic.
About Oblong Inc
Oblong Inc is a multistreaming and video collaboration services company. It is based in Los Angeles, California.