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Web 2.0 company Xing raises €35.7 million in IPO

Business social networking service OpenBC, a Teutonic version of LinkedIn, has announced that it has raised €35.7 million in an IPO. Its market cap is about €157 million.

OpenBC, which is rebranding as Xing, has around 1.5 million members, and was able to boost its revenues year-on-year from €1.6 million to just under €6 million at the end of the last fiscal year.

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Posted 13:43 12 Dec 2006 by Graham Charlton

Filed under: Communities, Business to Business, Social Networking, Xing, OpenBC, IPO

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