Professional Diversity Network, Inc. (NASDAQ:IPDN) (“PDN” or the “Company”), a developer and operator of online and in-person networks that provide access to networking, training, educational and employment opportunities for diverse individuals, announced the acquisition of additional 20% of equity interest in RemoteMore USA, Inc. (“RemoteMore”) on March 23, 2023, an online platform specializing in remote-hiring of software developers, increasing PDN’s ownership position in RemoteMore to approximately 66% after the transaction.
Recognizing the unstoppable trend of remote working and the surged demand of a curated workforce pool, PDN purchased approximately 46% of equity interest in RemoteMore back in September 2021. Since that acquisition, RemoteMore has continuously grown its revenue and operations. During the first three quarters of 2022, RemoteMore booked approximately $1,882,000 of gross revenue, six times more than the same period in 2021, increased registered company users from 650 to 1,500, and pre-screened developers from 6,300 to 24,000+ coming from all around the world.
