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National Association of Professional Women

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This is an old revision of this page, as edited by 162.217.133.122 (talk) at 07:09, 14 January 2018 (clarification about NAPW rebranding to IAW). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

National Association of Professional Women
Formation2007; 17 years ago (2007)
TypeProfessional association
HeadquartersGarden City, New York
Location
  • United States, China
Membership
> 850,000 nationwide
Official language
English, Chinese
Maoji (Michael) Wang[1]
Star Jones[2]
Websitenapw.com

The National Association of Professional Women (NAPW) is a Chinese-American for profit professional association and networking platform fully owned by Professional Diversity Network (NASDAQ:IPDN) since 2014.

Founded in 2007,[3] it is the largest business network for professional women in the United States, spanning virtually every industry and profession, with over 850,000 members from diverse backgrounds. In 2013, NAPW.com was voted one of Forbes’ Best 100 Websites for Women.[4]

National conferences (2011-2014)

The Annual NAPW National Networking Conferences was an event held every year in [New York City]] between 2011 and 2014 which presented speakers with varied fields of expertise, who imparted their experiences of business. The 2011 NAPW National Networking Conference featured keynote speaker, Ivanka Trump, Executive Vice President of Development and Acquisitions, The Trump Organization; Herta von Stiegel, Creator, Ariya Capital; Kathy Caprino, Psychotherapist and Executive Coach; Hilary Kramer, Commentator, Nightly Business Report and Valerie Smaldone, Host, NY Lite FM – 106.7.

The 2012 National Networking Conference, Transitions: Take Control of Your Future, was hosted by Star Jones, the organization's National Spokesperson and Chief Development Officer. Featured speakers included Sara Blakely,[5] Chief Executive Officer and Founder of Spanx; Randi Zuckerberg,[6] former Marketing Director of Facebook;; Denise Incandela, then President, Saks Direct;[7] Christie Hefner, CEO, Canyon Ranch Enterprises; Janet Rolle, EVP and CMO, CNN Worldwide; Christina Norman, Media Strategist and Editor, Huffington Post; Liza Huber, CEO and Founder, Sage Bears; Heather Freeland, Head of Global Marketing Communications, Facebook; Beth Ann Kaminkow, President and CEO, TracyLocke; Paige Mackenzie, LPGA Tour Professional; Judy Smith, Founder and President, Smith & Company and Kathleen Rice, Nassau County, NY District Attorney.

The 2013 National Networking Conference, Spark. Ignite Your Network, was held on April 26, 2013, at the Sheraton New York Times Square Hotel in New York City, hosted by Star Jones[8] with over 1,200 members in attendance, featured keynote speakers included Martha Stewart and Arianna Huffington. The NAPW Power Panel included Lesley Jane Seymour, Editor-in-Chief of More magazine; Desirée Rogers, Chief Executive Officer of Johnson Publishing Company; Monique Nelson, Chief Executive Officer of Uniworld (a division of WPP); and Kim Garst, Chief Executive Officer of Boom Social.[9] Workshop experts included Bonnie Marcus, Founder and Principal, Women’s Success Coaching; Danielle Miller, Creator, Naked Branding; Ana Berry, TV Host; Sue Stanek; PhD, Founder, Inspiring Results and Kathleen Barton, MBA, Your Life Balance Coach.

Corporate social responsibility

Created by Star Jones in May 2014, the NAPW Foundation is the company's nonprofit philanthropic endeavor designed to support causes that are front burner issues for women. The American Heart Association, of which she is also the National Volunteer; the Breast Cancer Research Foundation; Dress for Success and Girls, Inc. are the founding philanthropic partners. NAPW Local Chapter philanthropic initiatives are based around these charitable organizations as well as other local community fundraising events. Support for other charities and nonprofit organizations focused on women's issues and child wellness include the Jack Martin Fund at the pediatric oncology unit of Mt. Sinai Hospital, the American Cancer Society and the Jack Theissen Children’s Society. NAPW and the NAPW Foundation hold no relationship with "Napw Charitable Foundation" [10] As of January 2018 the NAPW foundation seems inactive, its social media properties have not been updated since January 2017 [11] and the website www.napwfoundation.org is no longer online [12].

Education scholarships

NAPW created the Rising Stars Education Scholarship Program, awarding scholarships to graduating high school seniors and undergraduate students who attend an accredited college, university or certified trade school in the U.S. Open to daughters of organization members, the scholarships are awarded to five outstanding students.[13] The Rising Stars program was active until 2014 [14].

Professional Diversity Network Merger (2014)

In July 2014 Professional Diversity Network (NASDAQ:IPDN) Announced a merger with NAPW [15] which was confirmed in September 2014 [16]. According to Professional Diversity Network's press release, at the time of the merger, NAPW shown revenues in excess of $19 Million and Positive Cash Flow. According to SEC 10K filing from September 2017, NAPW revenue for the last Quarter ending in September 2017 was $2,223,194 with a net loss of (1,528,231)[17]. NAPW's Parent company Professional Diversity Network shares lost over 90% of it's value since the Merger was confirmed September 24, 2014, dropping from $44.72 (adj. close) to $4.07 [18]

Acquisition by Chinese investors (2016)

At the beginning of 2016 IPDN found itself in a precarious position as revenue from the NAPW Network began a steep decline after closing in 2015 2 of the 3 offices NAPW had before the Merger and significantly reducing the size of the operation. In the 2nd quarter of 2016 revenue continued to nosedive with sales down by one-third and only just over $1.3mil left on the balance sheet[19]. By the third quarter, the cash balance had dwindled to just over $500k [20] and the company was in need of an urgent solution to avoid bankruptcy. On August 15th, 2016 a group of Chinese investors bought a majority stake in IPDN (NAPW's parent company) for $20mil via a Seychelles based shell company called Cosmic Forward Limited (CFL). All shareholders involved are executives of a Chinese company called GNet Group. Gnet Group (Gate Wang) has been criticized by Southern Weekly[21], a respected Chinese newspaper, as a scam that dupes small, unsophisticated investors out of their savings. GNet investors have taken to the streets to protest the company and have formed Internet forums to expose what some claim is a Ponzi scheme[22].

Complaints

As of January 2018 NAPW carries an "F" rating with the Better Business Bureau (BBB). BBB's report[23] states that the company's rating is due to 163 open complaints, 58 negative reviews and 0 positive reviews filed within the past three years, the length of time the company took to respond to complaints, its failure to resolve their underlying causes, and the nature of its advertising.[24]

The majority of complaints stem from the organization advertising and telling consumers that their membership is free, but once getting in contact with consumers they require annual membership fees that run up to $1000 a year. The organization does not offer written information on membership packages, but rather require that consumers choose over the phone which package they want and provide payment information before their membership application is processed.[25]

The report further indicates that consumers "were subjected to high pressure sales tactics by company representatives to join the organization even before they understood the costs or benefits. Other consumers that originally agreed to join the organization but opted afterward to cancel the membership say that they have difficulty reaching any company representatives to seek a refund."[26]

Yelp members currently rate the business at 1 star, mostly due to misleading sales practices.[27] Previous and current employees substantiate much of the consumer complaints on the company's Glassdoor profile.[28]

The increasing number of complaints and the severely damaged reputation of the NAPW brand and might have contributed to the decision of rebooting the operation under a new brand.

The final decline of NAPW and the launch of the International Association of Women (IAW) (2018)

According to PDN's SEC filings, NAPW experienced a steady decline since acquired by Professional Diversity Network in 2014, with reported revenue dropping every quarter[29]. In August 2017 NAPW's CEO leaves the company[30] and her departure is followed by a significant reduction in force that took place in late September 2017 [31].
In January 2018, Professional Diversity Network announced through a Press Release that it will be launching IAW [32]. According to the official communication distributed to the media, IAW would be operating independently from NAPW, but other sources from the company indicate that the launch of IAW was actually a rebranding of NAPW.
In the 2nd paragraph of the Press Release it reads"The company currently operates the National Association of Professional Women (“NAPW”), whose membership is now also expected to benefit from this international opportunity in addition to the vast array of additional benefits launched in 2017."
However, IAW's blog included a rewritten version of the same press release that replaces the second paragraph with: "The National Association of Professional Women (“NAPW”) has been rebranded as IAW through this launch. Under the new brand name of IAW, existing NAPW members will benefit from this international opportunity in addition to the vast array of additional benefits launched in 2017"'[33].

All NAPW social media properties had been either shut down or redirected to IAW properties[34][35][36]

This is the second time PDN announces the launch of IAW. According to an official Press Release from October 3rd, 2017, the brand had already been launched during the Women's Forum Global Meeting in Paris on October 5th[37].

PDN's IAW has no relationship with International Alliance of Women, an international women's rights organization also known as IAW.

See also

References

  1. ^ "Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers". Retrieved January 12, 2018.
  2. ^ [dead link] "The National Association of Professional Women Names Star Jones as National Spokesperson for Organization". The Wall Street Journal. Retrieved January 20, 2011.
  3. ^ "NAPW's profile on Crunchbase". Retrieved Dec 12, 2013.
  4. ^ "The 100 Best Websites For Women 2013". Retrieved Dec 12, 2013.
  5. ^ "10 Lessons I Learned from Sara Blakely That You Won't Hear in Business School". Forbes. Retrieved May 30, 2012.
  6. ^ "Where Was Randi Zuckerberg During Facebook's IPO?". New York. Retrieved May 30, 2012.
  7. ^ Moin, David (13 February 2014). "Denise Incandela Joins Ralph Lauren". WWD. Retrieved 13 February 2014.
  8. ^ [dead link] "'National Association of Professional Women (NAPW) Hosted Third Annual Networking Conference, Spark. Ignite Your Network'". The Wall Street Journal. Retrieved May 20, 2013.
  9. ^ "The National Association of Professional Women's 2013 National Networking Conference".
  10. ^ https://www.guidestar.org/profile/43-1972190
  11. ^ https://twitter.com/napwfoundation
  12. ^ https://web.archive.org/web/20170724155111/http://www.napwfoundation.org/
  13. ^ "The National Association of Professional Women's Rising Stars Scholarship (NAPW Rising Stars)". Retrieved Dec 12, 2013.
  14. ^ "Rising Stars Education Scholarship". Retrieved Jan 12, 2018.
  15. ^ https://globenewswire.com/news-release/2014/07/14/650408/10089120/en/Professional-Diversity-Network-and-National-Association-of-Professional-Women-Announce-Definitive-Merger-Agreement.html
  16. ^ https://globenewswire.com/news-release/2014/09/24/668282/10099948/en/Professional-Diversity-Network-and-National-Association-of-Professional-Women-Complete-Merger.html
  17. ^ https://investor.prodivnet.com/all-sec-filings/content/0001214659-17-006614/d11217010q.htm
  18. ^ "Professional Diversity Network, Inc. (IPDN) Historical Prices". Retrieved 2018-01-12.
  19. ^ https://www.sec.gov/Archives/edgar/data/1546296/000121465916013265/p81316010q.htm
  20. ^ https://www.sec.gov/Archives/edgar/data/1546296/000121465916014631/s1108201610q.htm
  21. ^ "Southern Weekly report on Gnet (Archived version translated into English by Google Translate)". Retrieved 2018-01-12.
  22. ^ "Professional Diversity Network linked to alleged Chinese scam ring". Retrieved 2018-01-12.
  23. ^ "National Association of Professional Women Review - PROFESSIONAL ORGANIZATIONS in Garden City, NY - BBB Business Review - BBB serving Metropolitan New York, Long Island, and the Mid-Hudson Region". www.bbb.org. Retrieved 2018-01-12.
  24. ^ "National Association of Professional Women Review - PROFESSIONAL ORGANIZATIONS in Garden City, NY - BBB Business Review - BBB serving Metropolitan New York, Long Island, and the Mid-Hudson Region". www.bbb.org. Retrieved 2016-12-10.
  25. ^ "National Association of Professional Women Review - PROFESSIONAL ORGANIZATIONS in Garden City, NY - BBB Business Review - BBB serving Metropolitan New York, Long Island, and the Mid-Hudson Region". www.bbb.org. Retrieved 2016-12-10.
  26. ^ "National Association of Professional Women Review - PROFESSIONAL ORGANIZATIONS in Garden City, NY - BBB Business Review - BBB serving Metropolitan New York, Long Island, and the Mid-Hudson Region". www.bbb.org. Retrieved 2016-12-10.
  27. ^ Yelp Reviews of the National Association of Professional Women
  28. ^ "NAPW Reviews". Glassdoor. Retrieved 2016-12-10.
  29. ^ https://investor.prodivnet.com/all-sec-filings/
  30. ^ "Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers". Retrieved January 12, 2018.
  31. ^ "NAPW's Glassdoor Review:"MASS FIRING TAKING PLACE 9/27-9/28 2017"". Retrieved January 12, 2018.
  32. ^ https://finance.yahoo.com/quote/IPDN/press-releases?p=IPDN
  33. ^ "NAPW Is Going Global And Has Been Rebranded To International Association of Women (IAW)". IAW Blog. Retrieved 2018-01-13.
  34. ^ "facebook.com/napwhq now redirecting to IAW". Facebook. Retrieved 2018-01-12.
  35. ^ "twitter.com/napwinc Former NAPW's Twitter Account". Twitter. Retrieved 2018-01-12.
  36. ^ "Instagram.com/napwinc Former NAPW's Instagram Account". Instragram. Retrieved 2018-01-12.
  37. ^ https://globenewswire.com/news-release/2017/10/03/1140105/0/en/Professional-Diversity-Network-Inc-to-Launch-IAW-Brand-Globally-at-the-2017-Women-s-Forum-Global-Meeting-in-Paris.html
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