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SOCIAL MEDIA NEWS: Xing sees an increase in revenues and members

Social media site Xing has seen an increase in revenues and members in the first half of 2010.

Its total revenue rose by 20 percent (approximately £21.47m) and its paying premium members increased by 18 per cent. Xing saw success in international markets as Turkey and Spain both saw an increase in members of 64 and 40 per cent respectively.

The networking site insists the positive results are down to a growth strategy it developed. Xing developed new income channels in the form of e-recruiting and advertising and said those changes and the improvements made to its premium membership product played a major part in the positive figures.

Stefan Gross-Selbeck, CEO of Xing, said, "We were able to present excellent figures for the first half of 2010. From an operative perspective, the second quarter was the most successful in the company's history with our strategy of tapping into new sources of income already bearing fruit."