Daily NewsView All News
Germany-based XING, the professional social networking site competing with US peer LinkedIn, has seen continued growth in the third quarter of the year with revenues rising by +11% to €18.33 million, the company reported on Thursday.
The firm operates in German-speaking countries - Germany, Austria, Switzerland – and benefitted from a rise in its e-recruiting division, which remained one of its key growth areas. This segment increased sales by over a fifth (+21%) to €3.69 million in the three months to September.
The firm has also seen a surge in members with nearly 200,000 joining the website in the quarter – this takes membership to over 12 million.
“XING has grown in all of its divisions during the third quarter. We intend to focus even more on social recruiting – a growth market with considerable potential in Germany – in the future. We will continue to make further investments in order to continue growing and expand our market-leading position over the coming years,” said CEO Thomas Vollmoeller.
Back in September XING launched a new product that provides recruiters with access to the largest candidate pool in German-speaking countries called the XING Talent Manager (XTM). Alongside a number of search, filter, and management features, this allows recruiters to work in teams so any potential candidates, internal notes, and employment statuses can be collected in centralized project folders and made available to other team members for further processing.