Professional Diversity Network Inc. (NASDAQ: IPDN), a networking and jobs website operator, acquired an additional 20% stake in RemoteMore USA Inc., a remote-hiring marketplace for software developers based in Chicago.
Professional Diversity Network previously acquired a nearly 46% of equity interest in RemoteMore in 2021.
RemoteMore USA has generated approximately $1.9 million in gross revenue in the first three quarters of 2022, increased registered company users to 1,500 from 650 and pre-screened developers to more than 24,000 from 6,300 globally.
“We are exhilarated to see the success of RemoteMore since the initial acquisition, which echoed our interpretation of the market needs in the recruitment industry; by adding RemoteMore to our platform allows us to respond to the market timely and on a wider magnitude,” Professional Diversity Network CEO Adam He said.