Another Web 2.0 IPO, Xing?

OpenBC, recently renamed Xing, is about to become first next Web 2.0 company to go public, according to this little posting on their blog. Deutsche Bank and Lehman Brothers are leading the offering.

The business social network which has about 1.5 million members is the European version of LinkedIn, and is doing about six million Euros in revenues. In the first quarter alone they did 2.8 million Euros.

Klaus Hommels and Wellington Partners are the VC backers of the company The three-year-old company is going to use the proceeds for international expansion it seems. If anyone else has more details, send them across, since they seem to be in a quiet period. (via)