"We wanted more international exposure and a progressive VC - and that is exactly what Wellington, through Eric Archambeau, is delivering."
Founder, XING AG
|Europe’s No. 1 social network
XING is a leading service provider of social networking for business professionals. Founded in 2003, XING is based on a subscription-based, highly scalable model enabling business professionals to maintain and expand their social networks within self-created privacy and communication rules, both locally and internationally. Eight years after it started, XING still manages to attract a huge number of new members - in 2012 the number of members grew to over 12 million business people. Trust and usage from the members have helped the company become successful: in 2011, revenues rose by 22 percent to € 66.2 million.
Thanks to its early profitability, XING did not need more than one financing round and quickly became ready for an IPO, one of the first Web 2.0 IPO worldwide. XING sole private equity financing was led by Wellington Partners in 2005. With a vast choice of investors, XING’s founders selected Wellington Partners for two reasons: Wellington Partners’ reputation and track record for helping European companies grow internationally and the presence of Eric Archambeau, one of Europe’s top entrepreneurial VCs who has been able to support and guide XING as a board member throughout its hyper growth period, a period rich with organizational, acquisitions and strategic decisions to be made at hyper speed. XING’s IPO took place in December 2006 on the Frankfurt Stock Exchange, an event which marked the beginning of a new exciting development phase for XING.