This is a member only article.
In case you haven’t heard the news Ziprecruiter is going public on May 26 in a direct offering on the NYSE under the ticker symbol ZIP. The move is a way for their investors (who pumped $200M+ into the company) to get a return on their investment.
This will add to a small number of job board players who are already public namely Dice, 51job in China, and the Professional Diversity Network which just released its earnings.
Professional Diversity Network trades under the Nasdaq as IPDN but is a small company with annual revenues around 4 million dollars from what I can gather. They operate a well established job board network (since 2003) of diversity sites for women, hispanics, etc.
They are not profitable having just claimed a loss of $756k in the first Qtr. Their stock reflects that, trading at around $1.50 a share at last check.
Total revenues for the three months ended March 31, 2021 increased approximately $502,000, or 51 percent to approximately $1,484,000 from approximately $982,000 during the same period in the prior year. The increase was predominately attributable to an approximate $608,000 increase in recruitment services revenues in the current period, partially offset by an approximate $121,000 decrease in legacy membership fees and related services revenues, as compared to the same period in the prior year.
Their sales seem to gaining momentum. During the three months ended March 31, 2021, their PDN Network generated approximately $1,175,000 in revenues compared to approximately $567,000 in revenues during the three months ended March 31, 2020. Not a bad improvement.
Wall Street hasn’t been kind to job board stocks in recent years. When Monster last had a stock it was only trading for a few dollars. And stock for DHI Group, owner of Dice, hasn’t had a major move upward up in years.
None of these companies are considered “high growth” so they are not like your typical tech stock. Its not surprising that they trade at these levels. It will certainly be fun to see where Zips stock opens at and how the market reacts to the popular job site going public.
