Xing, the German-based business social network, is expanding into the Spanish-speaking market with the purchase of eConozco, Spain’s second biggest professional network.
Since launching in 2003, eConozco has reached around 150,000 members in Spain and Latin America. Both parties have agreed not to reveal the financial details of the deal.
Xing, which is operated by Open Business Club AG, is planning to introduce the Xing network to its new Spanish members over the next 12 months, and will hope to convert some of these new members to its subscription model.
Xing was the first ‘Web 2.0’ company to go public, and recently posted some impressive figures, showing that its userbase grew by 149% in 2006.
It now has around 1.7m members, and roughly 13% of these pay €5.95 a month for the added benefits offered by subscription. It is the market leader in the German speaking world, with 1.3m users in Germany, Switzerland and Austria.