Software (7992)

Networking site Xing releases revenue figures

One of the few social sites to do so

17 October 2008 16:31 GMT / By Katie Scott

Its competitors are all keeping quiet but Xing, which is a relative newcomer to the social networking scene, has revealed how it has done so far this year.

The business-oriented website has announced that it managed to generate ad revenue of 1.7m euros for the first 9 months of 2008.

Its total revenue was €25m, €20m of which came from the website's 514,000 paying members.

Facebook and Xing's rival business networking site LinkedIn are free to use, but do make money from ads. However, they have not released their figures.

Meanwhile, MySpace has launched a new ad system called MyAds, which means that anybody can buy advertising space on the site.

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Software, Biz, Websites, Xing, Online