The Company is a dynamic operator of professional networks with a focus on
diversity. We use the term “diversity” (or “diverse”)
to describe communities, or “affinities,” that are distinct based
on a wide array of criteria which may change from time to time, including ethnic,
national, cultural, racial, religious or gender classification. We serve a variety
of such communities, including Women, Hispanic-Americans, African-Americans,
Asian-Americans, Disabled, Military Professionals, and Lesbian, Gay, Bisexual
and Transgender (LGBT). Our goal is (i) to assist our registered users and members
in their efforts to connect with like-minded individuals, identify career opportunities
within the network and (ii) connect members with prospective employers while
helping the employers address their workforce diversity needs. We believe that
the combination of our solutions allows us to approach recruiting and professional
networking in a unique way and thus create enhanced value for our members and
clients.
Following CFL’s investment in the Company’s in November 2016, we
began efforts to leverage PDN’s assets to maximize profitability, beginning
with refining operations and enhancing sales in order to transform the Company
from historical losses to future profits. The Company currently provides services
for employers’ who want to hire diverse talent, to individuals seeking
to network on a professional level and to job seekers who desire to improve
their professional situation. Since the control investment in PDN by CFL, we
have successfully expanded operations in China in three primary segments that
relate to the core US operations. In China, we have launched educational services,
business and women’s networking. We now offers membership in the International
Association of Women, The Business Elite Club and Educational Services. As a
result, in 2017, we began offering our educational, business and networking
services to our new members in China and also extended our reach to the Global
Women’s Forum Event in Paris, France, for elite members from China.
The core diversity recruitment business expanded in 2017 to include executive
placement services for leading companies seeking to hire diverse talent. This
new business line addresses a need for employers who want to secure leading
diverse talent in management, senior management and executive capacities. Initial
efforts have been focused on securing talent in digital transformation and finance.
Our diversity recruitment business provides additional value for our other business
segments by providing our registered users and members with access to employment
opportunity at leading companies.
The diversity recruitment market is highly fragmented and is characterized
by the following trends:
Rising Spending Power of Diverse Population. IPDN US segments are focused
on providing professional enhancement tools to diverse Americans including women.
Increasing Socialization of the Internet. The Internet has revolutionized how
information is created and communicated - a wealth of information is readily
accessible by browsing the Internet anonymously. However, we believe the social
aspect of the Internet is emerging as an increasingly powerful influence on
our lives. While an individual’s interpersonal connections traditionally
have not been visible to others, social and professional networking websites
enable members to share, and thereby unlock, the value of their connections
by making them visible. Today, personal connections and other information, such
as online social and professional networking websites, are increasingly becoming
a powerful tool for a growing population of users to connect with one another.
China – Demand for Our Services. Over the past two decades the Chinese
economy has experienced sustained, hyper growth. The female population in China
currently exceeds 675 million women, and women control approximately 38% of
business activities and 50% of business revenue. Our Chinese officers and directors
believe that China therefore presents a high demand economy for our core services
– professional networking for women and career services for job seekers
and employers.
We currently operate in four business segments: (i) Professional Diversity
Network (“PDN Network”), which includes online professional networking
communities with career resources tailored to the needs of various diverse cultural
groups, (ii) National Association of Professional Women (“NAPW Network”),
a women-only professional networking organization, (iii) Noble Voice operations
(“Noble Voice”), a career consultation and lead generation service,
and (iv) China operations (“China Operations”).