Hubert Burda Media has become the majority shareholder in the Berlin-based social enterprise Good Hood GmbH, which operates Germany’s largest social network for neighbours. Burda first invested in the platform in July 2016, and now contributed a further double-digit million investment. The network has over 1.6 million users in more than 8,000 neighbourhoods in Germany. With this majority takeover, Burda sets a clear course for further growth and sends a strong signal underscoring the importance of this social enterprise, especially during the COVID-19 crisis. All founders will remain shareholders of Good Hood GmbH. The charitable foundation Nebenan.de will also continue its work unabated.
Burda has replaced multiple investors, enabling the Nebenan.de team to continue its successful, public welfare-oriented path. Deutsche Tele Medien GmbH, Nordwest-Zeitung Verlagsgesellschaft and Pd ventures – the venture arm of the Pressedruck Augsburg media group – will remain investors of Nebenan.de. Founders Till Behnke and Ina Remmers will steer the company as Managing Directors, while founder Christian Vollmann will become Chairman of the Advisory Board effective September 1st, and remain committed to Nebenan.de for the long-term.
More than 1.6 million users in over 8,000 “hoods” make Nebenan.de Germany’s largest social network for neighbours. The platform aims to build functioning relationships between people within individual localities. By dispensing with algorithms and filter bubbles, Nebenan.de lowers the hurdle for real-life encounters and neighbourly relations. The platform currently develops various refinancing streams based on integrating local businesses and partners at the municipal level, as well as voluntary funding from dedicated users. In keeping with its mission,Nebenan.de consciously does not monetise its user data.
Xing is the leading online business network in German-speaking countries and supports its 18 million members in working in line with their way of life and individual preferences. Professionals from every industry connect with one another, look and apply for jobs, and seek inspiration about the latest trends in the world of work. Thanks to the broad news portfolio, Xing members can keep their finger on the pulse and discuss the latest developments.
Xing is a division of New Work SE, owned by Hubert Burda Media. New Work SE offers a wide range of brands, products and services for a better working life. By doing so, New Work SE is continuing its success story that reaches back almost 16 years. The professional network was founded as openBC and has since evolved into New Work SE by democratising professional networks in German-speaking countries. Today, the vast majority of professionals highly value and heavily rely on their network of contacts for many different reasons.
The company changed its name to Xing in 2006 and then to New Work SE in 2019. This most recent name change reflects the company’s commitment to a better working life as the New Work movement represents the main driver of all the company’s undertakings. New Work SE includes the professional network Xing, the employer assessment platform Kununu, the tech-focused job platform Honeypot, the applicant management software Prescreen and the expat network Internations.