Wall Street Transcript Interview with Jim Kirsch, CEO of Professional Diversity Network (IPDN)

Wall Street Transcript

67 WALL STREET, New York - May 13, 2013 - The Wall Street Transcript has just published its Internet Services Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: Increased Mobile Content Traffic - Chinese Online Monetization Trends - Internet Infrastructure and Services Consolidation - Social Networking Economics -

Companies include: Professional Diversity Network (IPDN) and many more.

In the following excerpt from the Internet Services Report, the CEO of Professional Diversity Network (IPDN) discusses his company's strategy and the outlook for this vital industry:

TWST: What does the recruiter space look like? Who is a typical client, and what do you see changing about those clients today?

Mr. Kirsch: Two things, first of all - those two questions, let me answer them sequentially. First of all, the client base is really any employer in America. Obviously there's a value to human capital, and as the economy continues to firm up, the demand for human capital intensifies. And we've gone through a long period of very high unemployment, but as unemployment rate starts to trickle down, we're starting to see more intense demand for human capital. And therefore you see, because the unemployment rate is much higher in the Hispanic community and the African-American community than it is in general market, that there is a lot of talent available that's not currently utilized, and accessing that talent is very important for all employees. The employers that we represent - the best opportunities for us would be those employers who are in the 3,000 to 5,000 largest companies within the United States, and also companies who have dealings in business with the government, whether they're direct contractor or a subcontractor.

TWST: What are the growth elements for an organization such as yours? Are you bringing more services to bear with the same clientele or is there room in the market for you to acquire more clientele?

Mr. Kirsch: Both. Number one, it's a highly fragmented industry, and we see it as a potential to consolidate a highly fragmented industry. There's never been a clear leader with a Google-esque share of the marketplace. We hope to become that Google-esque share leader in this sector, and that's why we want to invest sales and marketing to communicate that to corporate America and other companies who are recruiting throughout the nation.

The second thing is that we believe that there are other products that recruiters are currently acquiring that we don't offer. An example of that would be diversity career fairs. One of the things that we want to do as a new product launch is, we want to launch professional networking events for diverse Americans. And that's maybe something that we do in the near future in order to expand our product mix. So I think there's room for consolidating a fragmented market, but also launching new products and services into the existing client base that we have.

TWST: What's on the agenda? What are your priorities for the next 12 to 24 months? What would make that time frame a success?

Mr. Kirsch: First of all, we have a strategic alliance with LinkedIn, where LinkedIn is utilizing us in order to provide their clients with access to our diversity infrastructure for recruitment. It is important to us that we maintain that relationship in a positive and favorable manner.

Second of all...

For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

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