Professional Diversity Network, Inc. IPDN (“PDN” or “Company”), a developer and operator of online and in-person diversity talent networks that provides access to networking, training, educational and employment opportunities for diverse individuals, announced that the Company, pursuant to a stock purchase agreement with Koala Malta Limited (“KML”) dated as of September 27, 2022, a private limited liability company registered under the laws of Malta and 100% owned by Koala Capital Limited, has purchased a nine (9) percent interest in Koala Crypto Limited (“Koala”), the crypto asset exchange division of KML, for an investment amount of $1,350,000 to be funded by the issuance of restricted shares of PDN common stock. Following the transaction, PDN plans to extend its job boards into the blockchain industry, using its large diversity network.
“While we are always looking for investment opportunities to grow our core business, we believe that this investment in Koala will enhance our value. We have every intention to maintain and elevate our core business, which is to operate a best in class professional networking communities with career opportunities and resources specifically tailored to the needs of different diverse cultural groups,” said Adam He, Chief Executive Officer for PDN.
“The strategic investment from PDN will promote Koala’s future success and enhance its financial position. We are fully convinced that the addition of PDN as a shareholder will benefit Koala’s platform. We strongly believe that further synergy can be developed between PDN and Koala to bring in new profit streams to both parties,” said Raymond Xu, director of Koala.
Koala, along with Koala Money Limited (a separate subsidiary of KML in which PDN does not have a financial interest), is developing an integrated platform for crypto assets and electronic money. Regulated under European financial regulations and supervised by the Malta Financial Services Authority, Koala Money Limited seeks to provide secure payment solutions for a global community of retail and institutional clients through a single platform with Koala, which will be accessible via desktop or mobile phone.
About Professional Diversity Network, Inc.
Professional Diversity Network, Inc. (PDN) is a developer and operator of online and in-person diversity job seeker networks that provides access to networking, training, educational and employment opportunities for diverse professionals. Through our online platforms and partnerships, we provide hiring employers a means to identify and acquire diverse talent and assist them with DEI efforts. Our mission is to utilize the collective strength of our affiliate companies, members, partners and unique proprietary platform to be the standard in business diversity recruiting, networking and professional development for women, minorities, veterans, LGBT and disabled persons globally.
For more information about PDN, please visit:
About the Koala Platform
Koala obtained the first VFA Class 4 license issued by the Malta Financial Services Authority, with an aim to build the largest crypto assets trading exchange with social functions and to provide high quality services to clients with different culture and language background, 24/7. Koala voluntarily surrendered it license in order to afford it more time to develop and launch its platform and plans to promptly apply to reinstate the license.
For more information about the Koala Platform, please visit:
