Xing Reports 91% Increase in Revenue

Business social network Xing has just released their earnings figures for the first quarter 2008 and comparisons with first quarter 2007. Overall income is up 91% to 7.51 million Euros (roughly $11.6 million). The majority of Xing's revenue comes from premium members. Premium members accounted for 5.91 million euros in Q1/2008 (Q1/2007: 3.74 million euros).

Advertising made up just over half-a-million Euros while what Xing calls eCommerce brought in just shy of one million Euros. The company reports that the XING Marketplace for job listings doubled it's clickthrough rate from the previous month with a total of 2.30 million clicks in the category.

Nice to see a non-advertising focused business model working. Xing focuses on business social networking and this category of users has no issue paying for services rendered. It's still so interesting to me that Xing gets no play here in the U.S.

The full revenue charts are on the Xing newsroom. Check out our full-year 2007 Xing income coverage.