real-time news and commentary for investors
Tuesday, Sep 3
More on LinkedIn's offering: Is a bid for Xing on tap?
- Shares of German business social networking site Xing (XNGAF.PK) took off two weeks ago in Frankfurt thanks to rumors LinkedIn (LNKD) is preparing an offer for the company.
- Xing's market cap currently stands at $531M, or less than half the $1.15B LinkedIn could potentially raise through its stock offering. But analysts think Germany's Hubert Burda Media, which owns 52.6% of Xing, would only agree to a steep offer price, given Xing is central to Burda's efforts to grow its digital presence.
- The vast majority of Xing's traffic comes from German users. The company had 13.5M users at the end of Q2, and produced revenue of $27.5M during the quarter.