XING AG continues profitable growth
• XING opens up to third parties
• Number of employees increased by 89 percent to prepare for growth
• New CFO of XING starting July 1: Ingo Chu
Hamburg, May 14, 2009 – In the first three months of this year, the business network run by Hamburg-based XING AG, listed on the Frankfurt Stock Exchange, gained 51 thousand new paying members. 601 thousand XING members now choose to pay for Premium functions, which amounts to a growth of 43.1 percent within the last twelve months (Q1/2008: 420 thousand). Furthermore, the total membership base has increased by nearly 500,000 since the beginning of the year to 7.5 million (Q1/2009: 7.48 million compared to 5.71 million in Q3/2008).
“In a period of economic crisis, XING is continuing to grow and remain very profitable, and we're satisfied with these results. In order to further expand our market position, we have hired a number of very qualified employees, invested heavily and introduced a new development strategy, which will greatly accelerate our speed of innovation. Now with the successful launch of OpenSocial applications, we’ve laid the technical foundation for providing our members with relevant features developed by third-party developers. By doing so, we’ve started setting our strategic course for increasing the viral growth of our community in order to ensure profitable growth in the future. Furthermore, I’m happy to announce that we’ve hired a very competent new CFO for the company, Ingo Chu,” said Dr. Stefan Gross-Selbeck, CEO of XING AG.
Ingo Chu to be new CFO of XING AG
Starting July 1, 2009, Ingo Chu will be the new CFO of XING AG. Mr. Chu is 38 years of age, and brings with him years of experience working for Internet companies and the media, and has the necessary knowledge set to help XING AG achieve its goals of expanding operations. Mr. Chu currently works at the Bertelsmann Group, where he has been for nearly 14 years. He has held various positions at Bertelsmann at a managerial level, and for the past seven years, has been CFO of the RTL Shop GmbH, a Bertelsmann company. Starting July 1, he will assume the role of CFO at XING AG. He will head the Accounting, Investor Relations, Controlling, and BI divisions. Mr. Chu will replace the current CFO Eoghan Jennings, who is leaving the Company to pursue other career opportunities, and has agreed to consult XING AG until September 30.
XING is the leading European online business network. Over seven million members use XING in 16 languages to do business, find jobs, and pursue a career. XING helps members get connected and stay in touch with their contacts with customized networking solutions and services. Members are active on XING because of the real value generated, with XING Jobs, over 26 thousand specialized groups, and over 90 thousand live networking events a year, organized by members for members.
XING AG went public in December 2006 as the first Web 2.0 company to do so, and the XING AG share has been strong since. A continual increase in membership figures leads to increasing revenues and profits. XING AG is headquartered in Hamburg, Germany, and has local offices in Barcelona, Istanbul, Milan, and Beijing.
XING. Powering Relationships.
Director Corporate Communications
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release XING AG continues profitable growth here
News-ID: 79772 • Views: 929
More Releases from XING AG
XING continues growth course
* 70% increase in EBITDA in Q1 * Two thirds of growth generated by new sources of revenue * Strongest member growth in German-speaking countries since Q1 2009 Hamburg, May 10, 2011 – In the first quarter of 2011, XING AG successfully continued the growth course set during the 2010 financial year. The market leader in German-speaking countries reported an EBITDA of €5.6 million during Q1 2011, which represents an increase of 70%
XING: Boards suggest special distribution of funds from capital reserves amounti …
Hamburg, March 30, 2011 - The Management and Supervisory Boards of XING AG, Hamburg (ISIN DE000XNG8888), have decided today to suggest paying a special distribution of funds from capital reserves amounting to €20 million to the company’s shareholders at the next AGM on May 26, 2011. The payout per share will amount to approx. €3.70. Stefan Gross-Selbeck, CEO at XING AG, said: “This special distribution of funds highlights XING’s financial
XING AG increases EBITDA by 52 percent in Q3/2010
XING AG increases EBITDA by 52 percent in Q3/2010 * EBITDA of €4.46 million - The highest operating result in the company’s history * Revenues from services up by 20 percent * 194 thousand new members in German-speaking countries Hamburg, November 9, 2010 - In Q3/2010, XING AG reported an EBITDA of €4.46 million, the company’s highest ever operating result. This in turn equates to a 52 percent increase over Q3/2009 (€2.92
XING makes successful start to financial year 2010
17 percent increase in revenue to €12.60 million - €1.3 million profit - EBITDA of €3.3 million - 23 percent increase in member numbers compared to previous year - 420,000 new members in Q1 Hamburg, May 12, 2010 - XING AG has made a successful start to the 2010 financial year with Q1 revenues of €12.60 million, which represents a 17 percent increase over figures for the same period last year (€10.75 million). This positive development
More Releases for CFO
New Avenga CFO Mario Wilhelm
Cologne, February 10th, 2021 – Avenga, a specialist for implementing complex digital transformation projects, has recruited Mario Wilhelm as its new CFO. In this role, he is responsible for Finance, Reporting and BI, as well as Legal and Compliance at the international IT service provider, which has more than 2,500 professionals at 19 locations in Europe, Asia, and the USA. CFO Wilhelm reports to Jan Webering, CEO of Avenga.
Dion CFO Gopala Subramanium named “Fintech CFO of the Year 2019” at Acquisit …
27 May 2019 (UK): Dion Global Solutions today announced that Gopala Subramanium, their Chief Financial Officer, was named the Fintech CFO of the Year 2019 - South Asia award by Acquisition International. With several years of success to its name, Acquisition International’s Global CFO Excellence Awards celebrate the pioneering work and tireless efforts of the Chief Financial Officers (CFOs) who nurture their company’s financial stability and growth. The awards are
Fooda Brings on Justin Casciola as CFO
Casciola will oversee finance, accounting, financial planning and analysis, tax, internal audit and treasury. He is the company’s first CFO, joining at a time when the company is experiencing rapid growth. Chicago, June 25 2018: Fooda, the leading provider of freshly served restaurant food at work, today announced the company hired Justin Casciola as the company’s first CFO. The executive recruiting engagement was conducted by Lucas Group. “After a thorough
Enatel Appoints New CFO
Enatel Limited is delighted to announce the appointment of Aaron Gale as Chief Financial Officer. Most recently, Aaron served as CFO for HydroWorks and earlier to that as CFO for General Cable Oceania. He has over 20 years’ experience working in manufacturing, distribution, finance and media both in New Zealand and the United Kingdom. Aaron holds a BCom in Accounting from the University of Otago, qualified as a Chartered Accountant
Will Predictive Analysis prevent CFO Nightmare?
CFOs in today’s tough economic and business environment are increasingly placed under pressure as they take on decision making roles that make enterprise-wide impact. Key challenges for any CFO are ubiquitous – cash-flow management, revenue growth, profit maximization and minimizing risk. Unpredictable collection cycles remain a major cause of the CFO Nightmare: misjudgement of the organization’s cash-flow. With the recent spotlight on big data and predictive analysis, the finance department is looking
Walden Behavioral Care Appoints Henritze CFO
WALTHAM, Mass., March 8, 2011 – Walden Behavioral Care announced today that Walter M. Henritze of Paxton has been appointed to the position of Chief Financial Officer. For the past two years, Henritze has served as Walden’s interim CFO. In his new role, he will supervise all financial and business operations, as well as critical administrative functions, including integration of human resources and quality management. Henritze’s professional background includes serving as