Professional Diversity Network, Inc. Exceeds 500,000 New Users Per Month
CHICAGO, July 7, 2015 (GLOBE NEWSWIRE) -- Professional Diversity Network, Inc. ("PDN") (NASDAQ:IPDN), a developer and operator of online networks and technologies that provide access to employment opportunities for diverse professionals in the United States, announced today that it has sustained the rapid registered user growth it previously reported and surpassed 530,000 new registered users per month during June.
- 1,535,226 new registered users in the past 6 months
- 530,251 new registered users in June 2015 alone
- Nearly 2,000% new registered user growth on a month over month basis in June 2015 (over 530K) versus October 2014 (26.5K), last full month before Noble Voice acquisition
- Q2 bookings of $10.3 million, up nearly 800% compared to second quarter 2014
"In June we added over half a million new users, all of whom are job seekers who help us achieve our mission of matching diverse workers with the employers who need them," said Jim Kirsch, CEO. Kirsch continued, "With the rollout of HireAdvantEDGE, our latest product, which helps employers improve candidate quality while reducing time to hire, it is critical to continue to bring new users into our system and feed our employer partners' demand. The graph below proves the maxim that a picture is worth a thousand (or in this case over half a million) words, and tells us that we are succeeding."
Sergio Zlobin, VP of Technology, added, "For a technology company to achieve success it must grow its user base in an efficient and sustainable way. At PDN our users are job seekers, and we have created a formula that allows us to add new users, at a declining marginal cost per user, while we are seeing similar growth in our employer partners. This means that we are growing supply (job seekers) while growing demand (employers), and matching the two in a manner we believe we can sustain and continue to grow. While our growth is always subject to market conditions and the like, we are absolutely prepared from a structural and technology perspective, and I am very confident that we can continue to refine and improve not only our formula for attracting new users but our technology for delivering them to employers."
"It strikes me that when 2015 began we had enrolled just over 3 million users over the entire 12 year lifetime of our company," said Mr. Kirsch. He continued, "So far in 2015 we have already registered over 1.5 million new users, with the rate growing every month. There is a very strong and fundamental relationship between registered users and our future potential. In recruitment, our greatest asset is the human capital inventory we can access and the efficiency in which we connect our diverse users and employers. That is why we are thrilled about the 497 employers utilizing our network to place our new registered users in careers across the nation. Our entire executive team believes that our prospects have never been better, and with $10.3 million in new bookings for the second quarter, the numbers we are reporting today back that up."
About Professional Diversity Network, Inc.
Professional Diversity Network, Inc. (PDN) is an Internet software and services company that develops and operates online professional networking communities dedicated to serving diverse professionals in the United States and employers seeking to hire diverse talent. Our subsidiary, National Association of Professional Women (NAPW), is one of the largest, most recognized networking organizations of professional women in the country, spanning more than 200 industries and professions. Through an online platform and our relationship recruitment affinity groups, we provide our employer clients a means to identify and acquire diverse talent and assist them with their efforts to comply with the Equal Employment Opportunity Office of Federal Contract Compliance Program. Our mission is to utilize the collective strength of our affiliate companies, members, partners and unique proprietary platform to be the standard in business diversity recruiting, networking and professional development for women, minorities, veterans, LGBT and disabled persons globally.
This press release contains certain forward-looking statements regarding the future based on our current expectations, forecasts, beliefs, intentions, strategies and assumptions. Forward-looking statements can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. Forward-looking statements involve risks and uncertainties and our actual results may differ materially from those stated or implied in such forward-looking statements. Factors that could contribute to such differences include, but are not limited to: failure to realize synergies and other financial benefits from mergers and acquisitions within expected time frames, including increases in expected costs or difficulties related to integration of merger and acquisition partners; inability to identify and successfully negotiate and complete additional combinations with potential merger or acquisition partners or to successfully integrate such businesses, including our ability to realize the benefits and cost savings from, and limit any unexpected liabilities acquired as a result of, any such business combinations; our limited operating history in a new and unproven market; increasing competition in the market for online professional networks; our ability to comply with increasing governmental regulation and other legal obligations related to privacy; our ability to adapt to changing technologies and social trends and preferences; our ability to attract and retain a sales and marketing team, management and other key personnel and the ability of that team to execute on the Company's business strategies and plans; our ability to obtain and maintain intellectual property protection for our intellectual property; any future litigation regarding our business, including intellectual property claims; and the risk factors disclosed in our Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 31, 2015 and any subsequent filings made by us with the SEC. Forward-looking statements in this release are based on information available to us as of the date hereof and we assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K filed with the SEC on March 31, 2015, together with this press release are available on our website, www.prodivnet.com.
CONTACT: RedChip Companies, Inc. Jon Cunningham (800-733-2447), ext. 107 email@example.com
Released July 7, 2015