IPDN - Professional Diversity Network acquires 7% interest in RemoteMore USA

2023-05-02 09:22:33 ET

• Professional Diversity Network ( NASDAQ: IPDN ) acquires additional 7% in RemoteMore USA on April 28, 2023.
• After the transaction, PDN’s ownership position in RemoteMore will increase to ~73%.
• RemoteMore has been working on an AI solution that improves the matchmaking between companies and developers.
• During the first three quarters of 2022, RemoteMore increased the number of its registered company users from 650 to 1,500, and its pre-screened pool of developers from 6,300 to over 24,000.
• “Integrating an AI-powered tool to ensure that the best fit applicants reach our employer clients is the logical next step. These tools have grown in popularity in recent months. Our strategy is to be proactive when it comes to the adoption of new technologies that can revolutionize our industry.” said Boris Krastev, CEO and Co-founder of RemoteMore.
• The stock price has surged 8% pre-market .

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