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.