Social Networking Watch: News on the Social Networking and Social Media Industry

XING Continues Growth Course During H1/2011 with a 95% Rise in Profits

XING - Aug 11 - XING, the business network in German-speaking countries, has continued its growth course during the first half of 2011 with revenues from services rising by 25% to €31.6M compared to €25.3M during H1/2010. The operating result (EBITDA) grew by 60% to €11.3M (compared to €7.0 M in H1/2010).

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XING’s Quarterly Results Show Healthy Growth Across The Board

XING BLOG - May 11 - XING shows a 70% increase in EBITDA to €5.6M, a 24% increase in revenues to €15.7M, and 114% increase in profit to €1.26M.

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XING Q3 Report: 10 Million Members And Rising

XING BLOG - Nov 9 - XING, the German professional social network, passed the ten million member mark this September with 4.27M people registered on their platform in German-speaking countries alone. XING also has 730,000 Premium Members. XING's offices in Turkey and Spain have experienced member growth with ~1M members in Turkey and ~1.5M in Spain. FULL ARTICLE @ XING BLOG

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XING Makes Successful Start To Financial Year 2010

XING - May 12 - Xing's Q1 revenues was €12.60M, which represents a 17% increase over figures for the same period last year (€10.75M). This positive development was largely attributable to the 708,000 Premium Members registered on the platform, a 17% YOY. Overall, the number of members worldwide increased by 23% from 7.5 to 9.2M over the last twelve months. During the first quarter of 2010, 420,000 people joined XING. FULL ARTICLE @ XING

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XING Increases Revenue By 28%

XING - Mar 30 - XING AG increased its revenues by 28% from €35.3M in 2008 to €45.1 M in FY 2009. The key growth driver here was an increase in paying Premium customers by 25% to 687,000 (550,000 in 2008). Overall, in 2009 XING had 8.75M members worldwide. FULL ARTICLE @ XING

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Burda Buys 25% Stake In XING

TECH CRUNCH - Nov 18 - German media giant Burda has purchased a 25.1% share in XING, the business social network that is biggest in Germany and competes with LinkedIn. The 1,323,041 shares were sold to Burda by Cinco Capital, the investment vehicle owned by the former XING co-founder Lars Hinrichs. Priced at €36.50 per share, the deal is therefore worth €48.3M. This makes Burda Digital the largest shareholder in XING. FULL ARTICLE @ TECH CRUNCH

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XING AG Posts Strong Revenue Growth

XING - Nov 12 – XING AG had total revenues of €33.2 million in the first nine months of 2009, an increase of 32% from the same period last yar. Q3/2009 revenue was €11.7 million, a 27% improvement over Q3/2008. XING's premium memberships have grown 29% in the past 12 months. FULL ARTICLE @ XING

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XING Launches Recruiter Membership

XING - Oct 26 - XING  launches its Recruiter Membership, that enables users to benefit from powerful new search filters optimized especially for recruitment purposes, such as “Career level”, “Professional experience”, “Company size” and “Industry”. Recruiter Membership is now available at an introductory price of 29.95EUR/month. FULL ARTICLE @ XING

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XING Boosts Midyear Revenues By 35%

XING -- Aug 13 -- XING has announced total revenues of €21.54M for the first six months of 2009. This is an increase of 35% over total revenues for H1/2008 (€15.91M). In H1/2009, XING gained over 900K new members. At the beginning of Aug 2009, the membership base exceeded 8M for the first time. FULL ARTICLE @ XING

Mark Brooks: I just signed up for premium membership at Xing. It was a third the price of Linkedin.  Also see Viadeo and Tianji for other examples of Linkedin-esque companies around the world.

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Xing Exceeds The 8 Million Members Mark

XING -- Aug 3 -- Xing has gained ~1M new members since the beginning of 2009 bringing their total to 8M registered members. 50% of those new 1M members registering this year are based in Germany, Austria and Switzerland. In total, over 3.4M business professionals currently use the platform from these German-speaking countries. This makes Xing the most frequently used and fastest-growing professional network in its domestic markets. FULL ARTICLE @ XING

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XING Launches App For BlackBerry

XING -- July 2 -- XING, Europe’s leading business network, has launched a new app for BlackBerry smartphones.  The app keeps track of all the user's contacts - phone numbers and email addresses. The app can be downloaded for free directly to the user's BlackBerry smartphone by visiting the XING mobile website. FULL ARTICLE @ XING

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XING Launches First OpenSocial Applications

PRESS RELEASE -- May 18 -- XING, Europe’s leading business network, has launched its first OpenSocial applications – “XING News” and “Ask XING”. The beta version of “XING News” is a social news service that enables XING members to discover and share news from multiple sources filtered by the XING community and their own XING contacts. The app also allows users to comment on and rate individual news items, facilitating interaction between members. “Ask XING” enables members to ask questions and get answers by tapping into the collective pool of expertise that the entire XING community has to offer. FULL ARTICLE @ XING

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XING AG Continues Profitable Growth

PRESS RELEASE -- May 14 -- In the Q1/2009, Xing gained 51K new paying members. 601K XING members now choose to pay for Premium functions, which amounts to a growth of 43.1% within the last twelve months (Q1/2008: 420K). The total membership base has increased by 500,000 since the beginning of the year to 7.5m compared to 5.71m in Q3/2008). Xing's revenue grew 43.3% (Q1/2009: €10.76m vs. €7.51m in Q1/2008). FULL ARTICLE @ XING  

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Xing Boosts Revenues By 80%

PRESS RELESE – Mar 26 -- The over two million new members that Xing acquired made it possible for the company to increase its revenues to €35.27m in 2008, an increase of 80%. FULL ARTICLE @ XING CORPORATE WEBSITE

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Xing Increases Revenues By 80%

PRESS RELEASE -- Feb 12 -- Xing's revenue increased by 80% to 35.3m euros (2007: 19.6m euros). More than 2m new members have over the course of the last 12 months. Xing has generated more than 28m euros with its core Subscription business model for Premium Memberships, constituting 80% of the Company's overall revenues. FULL ARTICLE @ DGAP

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LinkedIn Launches In Germany

TECH CRUNCH -- Feb 4 -- LinkedIn is launching a dedicated site for Germany. LinkedIn had significant growth in Spain and France last year - 200,000 users in two months and France hit 700,000. It has a an existing 500,000 in Germany, 80% of whom are usinng the site for English connections. Xing currently has a market cap hovering at around $182m, a fraction of LinkedIn's reported $1 billion+ private valuation. Xing has over 6.5m members. FULL ARTICLE @ TECH CRUNCH

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XING Acquires Socialmedian

TECH CRUNCH -- Dec 19 -- XING, a global professional social network that's strong in Europe, has acquired New York based Socialmedian ~ $7.5m. Socialmedian is a personalized news filter that integrates well with social networking platforms. It aggregates news articles from around the web. Users can pre-define which topics they'd like to receive news on, and they can also submit articles to the site with the help of a bookmarklet. FULL ARTICLE @ TECH CRUNCH

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Online Networks A Magnet For Job-seekers

REUTERS -- Nov 26 -- U.S. unemployment hit a new 14-year high in October and according to online job advertising firm Monster, recruitment activity on the Web plunged to its lowest level in nearly three years. Jobless rates are also rising in Europe. Membership on LinkedIn has jumped to more than 31m from 18m at the start of the year. Xing, which has 6.5m users, has also seen a jump in registrations and connections to record levels. "The crisis is very beneficial for us. We are debt-free, with over 40m euros ($50.5m) in cash, and the prices for competitors are dropping significantly," said Xing CEO Lars Hinrichs. Martin Olausson, from Strategy Analytics, estimated the size of the online professional social networking market at about $170m this year. FULL ARTICLE @ REUTERS

Mark Brooks: Interviews are 70% accurate at best. The best way to hire people is via referral. Linkedin and Xing are capturing the cream of the referral, non-advertised job market.

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