Xing business grows significantly
The professional networking site Xing saw significant growth in the past quarter thanks to its premium membership business. Revenue grew by a good 17 percent year-over-year to 30.5 million euros.
The fall in profit from 4.7 to 4.6 million dollars was explained by higher marketing expenditure. The number of members in German-speaking countries grew from 8.8 to 9.2 million within three months, as the subsidiary of the German media group Burda announced in Hamburg on Thursday. According to the latest figures, US rival LinkedIn has seven million members in the region. The number of paying Premium members at Xing rose by 36,000 to 869,000 within a year. This growth is "above what we planned for this year," said Xing CEO Thomas Vollmoeller. The innovations in the coming year will focus on mobile applications. The use of Xing is increasingly shifting to smartphones and tablets, and the mobile share is now over 50 percent. (SDA)
