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SOCIAL MEDIA NEWS: Xing profits online

Over two million new members joined professional networking site, Xing according to its latest financial report that showed profitable growth in 2008.

"The first weeks of the new year have shown that more and more business professionals across Europe are turning to Xing for their business networking needs," commented Thorsten Vespermann, director of corporate communications at Xing.

The company, which now claims to have a total membership of seven million, experienced revenue increases of 80 per cent, to 35 million euros (£30.1 million).
This subscription model made up 80 per cent of its core revenue, while the rest came from ecommerce, which includes jobs and best offers, and advertising.

In August 2008, Xing launched a campaign ‘Start networking not just Linkin' in the UK, targeting businesses by billboards in the London underground stations and in ads in the national press and on websites. While the company was unable to disclose its results, it did state that campaign had the highest number of registrations per day in the UK.

The majority of Xing's clients are based in Germany (2.3 million), followed by parts of Europe (1.4 million). The company could not reveal specific figures for its membership in the UK. Xing has headquarters in Hamburg and offices in Beijing, Barcelona and Istanbul, and employs 161 staff.

 

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