OpenBC, which runs international business networking platform Xing, has purchased eConozco, which bills itself as the second largest Spanish professional contact network. The four-year-old eConozco network has about 150K members in the Spanish and Latin American markets. The financial terms were undisclosed. Release
As Mashable points out, Xing is trying to expand its European base to better compete against Palo Alto-based rival LinkedIn, which has been holding its own in Europe.
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—Germany Social Networking Site OpenBC/Xing Raises Euro 35.7 Million in IPO
—Germany Social Networking Site OpenBC/Xing Sees IPO Share Listing Dec 7