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PR Newswire (Fri, 2:28PM)
PR Newswire (Feb 6, 2014)
PR Newswire (Feb 4, 2014)
PR Newswire (Jan 14, 2014)
at MarketWatch.com (Jan 6, 2014)
at MarketWatch.com (Mar 5, 2013)
IPDN vs. ETF Alternatives
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- Professional Diversity Network (IPDN) shares plunge 25.9% AH following a disclosure that LinkedIn has terminated its Diversity Recruitment Partnership Agreement with IPDN effective March 30. As a result, LinkedIn will not longer be a reseller of IPDN's products/services, subject to a 1-year wind down period during which IPDN will fulfill companies who purchased products previously. (8-K)
- The agreement had included fixed quarterly payments of $500K and additional commission revenue.
- The termination is a large blow to IPDN, given the company's TTM revenue of $4.3M, with LinkedIn representing 52% of all revenue in the most recent 9 months. The company suffered a similar blow when an agreement with Monster Worldwide expired without renewal in 2012 (see 10-Q).
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