The careers network Xing buys the recruiting startup Honeypot. The Berliner platform works in such a way that companies have to apply to potential employees. Companies like Zalando or Zeiss are looking for tech talents there.
The purchase price is 22 million euros, as Xing tells. Should the startup reach certain “ambitious” goals in the next three years, the payment will increase by another 35 million euros. In the history of Xing, which wants to rename itself soon in New Work SE, this is the largest takeover, it is said. The German careers network had acquired several startups last year, including Prescreen and Internations.
According to the company, 50 employees work for the Berlin-based company. 100,000 tech specialists are registered on the platform. Honeypot plans to expand the business with German-speaking countries. Xing will also support international expansion with “significant investment,” they say.
Honeypot was founded in 2015 by Kaya Taner and Emma Tracey, who started his career at Hitfox. There he founded together with the company builder and Tim Koschella the mobile marketer Applift. The company still owns more than 60 percent of the founder. Sales figures are unknown.