LinkedIn Competitor XING Buys Glassdoor-like Startup Kununu For $12.3M, But Will It Fair Well?

The German market for startups never ceases to amaze me. While many European startups struggle with either internal markets that are too small or international markets that are pretty daunting, the German eco-system rattles along pretty well, given that with Germany, Austria and Switzerland you have a potential market of about 100 million German-speaking consumers. Thus it is that a small startup like kununu - a German-based equivalent of Glassdoor, the employer reviewing service - can exit relatively easily to a larger player like XING, a LinkedIn-like company that managed to float on the German exchange some years ago. The acquision is for up to ?9.4 million ($12.3 million). At 3 million page impressions per month, kununu is not exactly that big - but crucially, it's big in the German market. XING is paying out ?3.6 million, with an additional sweetener of ?5.8 million based on performance to 2015. Founders Martin and Mark Poreda and all 30 staff are staying on.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/wXJ3bA-yg10/

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