February 28, 2008 12:00 ET

XING Reports Over 400,000 Paying Members

SAN FRANCISCO, CA and HAMBURG, GERMANY--(Marketwire - February 28, 2008) -

--  Over 60 percent more paying members in a single year
--  XING has more members who choose to pay for Premium functions than any
    other social network in the world

Starting the new year with a burst of activity, XING AG (ISIN: DE000XNG8888) reported continued growth of overall new members and announced today that the Company has exceeded the 400,000 mark of paying Premium Members for the first time ever. Already in Q3 2007, XING AG boosted its paying members by 40,000, leading to the highest operating profits in the history of the Company. The Company increased its earnings before interest, taxes, depreciation, and amortization (EBITDA) to 6.89 million euros, due to the scalability of its business models.

Lars Hinrichs, CEO and Founder of XING AG, stated: "XING's success is proof that Internet users are prepared to pay for high quality services and useful functionalities. We've developed from an Internet platform for contact management into a comprehensive web interface for business professionals around the world. Right now, we're hard at work on new, tailor-made Premium functions which will allow our members to make their daily business lives even more efficient and effective."

About XING:

XING makes your professional network an active part of your life. Far more than a directory of business contacts, XING enables its members to discover professional people, opportunities and privileges through its unique discovery capability and advanced contact management tools. With the successful IPO of XING as the first Web 2.0 company to go public, XING AG has had a long-term impact on the social networking trend amongst professionals. By focusing on the target group 'business people worldwide,' the company is able to offer tailored features, thereby making networking and contact management simpler. Besides Headquarters in Hamburg, XING AG is also represented with offices in Barcelona, Istanbul and Beijing.

XING. Powering Relationships.

Important notice:

Provisional financing figures and proforma figures subject to confirmation

The results and figures published in this notification are unaudited and have been calculated by the company on the basis of provisional annual financial statements and the previous annual financial statements for the specified periods in order to enable a better comparison to be made and to present exceptional factors. Some of the figures have been calculated on a pro-forma basis. These provisional financial figures may be the subject of changes when the annual financial statement is audited. Although, in the opinion of XING AG, the proforma figures reflect the direction of development of ordinary business and the current status of the company, there is no guarantee that these proforma figures precisely reflect this development direction and this state.

Cautionary note regarding forward-looking statements:

This press release notice contains forward-looking statements concerning XING AG, its subsidiaries, and economic and political conditions that could influence the performance or operations of XING AG. These forward-looking statements are based on assumptions made by the management of the Company in accordance with the information available to it at the time. A variety of different factors could lead to actual results, trends and conditions that differ significantly from the forward-looking statements contained in this press release. The Company does not assume any liability for this eventuality and cannot guarantee that the information upon which the forward-looking statements are based is correct and complete, nor is the Company, its subsidiaries and affiliated companies liable for the future correctness of the statements outlined in this press release.

Contact Information

  • XING Media Contacts:
    US: Kathy Johnson
    Consort Partners
    Email Contact

    Daniela Hinrichs
    VP Corporate Communications
    Email Contact