The Business Web 2.0
As CEO of business-based social networking site WeCanDo.BIZ, read my take on the role Web 2.0 technologies can play helping businesses to grow.
Thursday 11 September 2008, 12:53 PM
XING proves business people will pay to network online
Europe's answer to LinkedIn has 500,000 paying members; who else can show a 8% premium member base?
XING AG of Germany, widely billed as Europe's answer to LinkedIn of the US, has announced it has added 140,000 paying members to its base of over 6 million business networking members in the eight months of this year so far.
This takes its premium base to over 500,000, representing a consistent 8% of its overall membership numbers.
It has also reported revenues doubled and profits tripled.
At any time this would be a healthy set of results, but in current economic climes it is amazing, especially given the cynicism that surrounds the long-term viability of many Web 2.0 businesses, who have been unsuccessful in "monetizing" large user numbers.
Not many social networks charge for access, but XING proves that if you have something of value people will pay to get it. We anticipated this in the business plan for WeCanDo.BIZ and add our premium level subscription next month, charging close to the subscription levied by XING for access to leads, referrals and more member data.
I wonder what proportion of users pay to access LinkedIn?
Ian Hendry
CEO, WeCanDo.BIZ
http://www.wecando.biz
XING AG of Germany, widely billed as Europe's answer to LinkedIn of the US, has announced it has added 140,000 paying members to its base of over 6 million business networking members in the eight months of this year so far.
This takes its premium base to over 500,000, representing a consistent 8% of its overall membership numbers.
It has also reported revenues doubled and profits tripled.
At any time this would be a healthy set of results, but in current economic climes it is amazing, especially given the cynicism that surrounds the long-term viability of many Web 2.0 businesses, who have been unsuccessful in "monetizing" large user numbers.
Not many social networks charge for access, but XING proves that if you have something of value people will pay to get it. We anticipated this in the business plan for WeCanDo.BIZ and add our premium level subscription next month, charging close to the subscription levied by XING for access to leads, referrals and more member data.
I wonder what proportion of users pay to access LinkedIn?
Ian Hendry
CEO, WeCanDo.BIZ
http://www.wecando.biz
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