The Times of India - German online business networking company Xing has bought cember.net, Turkey's first online business networking site, to strengthen its leadership in the Turkish-speaking market, it said in a statement late on Tuesday. Fast-growing Xing, a competitor to US-based LinkedIn, said it would pay 4.4 million euros ($6.4 million) in stages for cember.net.
"Xing is driving forward its course of consolidation in Europe," it said in a statement, after it bought Spanish rivals Neurona and eConozco in the last year. The Hamburg-based company, an early social networking company to go public in 2006, had 4.25 million members at end-September and offers services in 16 languages.
It had sales of 13.13 million euros in the first nine months of 2007, more than double what it had a year earlier.