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CHICAGO - Professional Diversity Network, Inc. (NASDAQ:IPDN) announced Tuesday it has signed a non-binding memorandum of understanding with Dubai-based OOKC Group to establish a joint venture focused on Web 3.0 technologies. The announcement comes as IPDN’s stock has seen significant volatility, with an 82% surge over the past six months despite a recent 38% weekly decline. According to InvestingPro analysis, the company’s stock currently appears undervalued based on its Fair Value calculations.
The planned collaboration aims to create a platform integrating artificial intelligence, blockchain, and digital financial services, according to a company press release. Both companies intend to contribute capital to the venture, though specific financial terms were not disclosed. This strategic move comes as IPDN maintains impressive gross profit margins of 53%, though InvestingPro data indicates the company is quickly burning through cash with negative free cash flow of $2.54 million in the last twelve months.
The joint venture will focus on tokenization of real-world assets, decentralized finance, non-fungible tokens, and distributed storage technologies. The companies also plan to co-host industry events to promote Web 3.0 technology exchange.
"Our cooperation with OOKC represents a long-term strategic layout in next-generation internet technologies," said Mr. Wu, CEO of IPDN. "We believe blockchain will empower many industries."
Sarah Xu, Founder of OOKC Group, noted her company holds multiple professional blockchain licenses and has worked with several countries on national-level stablecoin projects.
OOKC Group operates through two divisions: OOKC Capital, which provides Web 3.0 asset investment advisory services, and OOKC Labs, which specializes in technology development and on-chain data analytics.
Professional Diversity Network, which trades on the Nasdaq, describes itself as a technology holding company focused on AI technologies and solutions. The company has been expanding its focus to include Web 3.0 technologies as part of its diversification strategy.
The memorandum represents preliminary intentions between the companies, with final terms subject to definitive agreements.
In other recent news, Professional Diversity Network, Inc. has entered into a securities purchase agreement with Streeterville Capital, LLC. This agreement allows the company to issue and sell up to $20 million of its common stock through pre-paid advance purchases. Initially, the company will receive $3,397,725 in cash proceeds, with additional funding expected within 30 days, pending certain conditions. Additionally, Professional Diversity Network announced a non-binding Memorandum of Understanding with Dubai-based OOKC Group to develop a Web3.0 digital investment banking platform. This collaboration aims to focus on tokenization and decentralized capital structures. In leadership news, Xun Wu has been appointed as the new Chief Executive Officer, effective July 22, 2025, bringing experience in digital content and mass communication. The company also reported a change in its independent auditor, appointing SR CPA & Co. after the resignation of Sassetti LLC due to scheduling conflicts. These developments signal significant changes for Professional Diversity Network as it moves forward with new initiatives and leadership.
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