Who Owns New Work Company?

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Who Owns New Work SE?

The ownership of a company dictates its strategic path and accountability. A recent significant ownership change occurred for New Work SE, the operator of the professional social network XING, as it moved to full ownership by Hubert Burda Media.

This transition marks a pivotal moment for the company, which has been a key player in the D-A-CH region's professional networking and e-recruiting sector.

Who owns New Work SE?

The journey of New Work SE, from its inception as OPEN Business Club AG in August 2003 to its current status, has been marked by strategic evolution and shifts in its ownership structure. Initially founded by Lars Hinrichs, the company rebranded to XING in November 2006 and later to New Work SE in mid-2019. Its core mission has always been to connect professionals for networking, career advancement, and recruitment, with a strong emphasis on the German-speaking market. As of the first half of 2024, New Work SE employed 1,444 individuals and reported revenues amounting to €133.7 million. A comprehensive understanding of its market position can be gained through a New Work PESTEL Analysis.

The recent acquisition by Hubert Burda Media signifies a move from a publicly traded entity to a privately held one, indicating a potential shift in governance and operational priorities. This change in ownership structure is a critical factor for stakeholders to consider when evaluating the company's future trajectory and market performance.

New Work SE began its journey as OPEN Business Club AG in August 2003, founded in Hamburg, Germany, by Lars Hinrichs. Hinrichs served as the company's CEO until 2009. While precise initial equity distributions are not publicly detailed, the company adopted a global strategy early on before concentrating on the German-speaking market from 2012. The platform officially launched on November 1, 2003, and was later rebranded as XING in November 2006. An early public offering facilitated resource acquisition for expansion in the competitive social networking landscape.

Founding Entity

The company was initially established as OPEN Business Club AG. This marked the inception of what would later become a significant player in the professional networking sector.

Founding Leadership

Lars Hinrichs was the driving force behind the company's establishment. He led the organization as its CEO for a notable period, guiding its initial strategic direction.

Early Market Strategy

In its formative years, the company pursued a global market approach. This broad strategy was later refined to focus specifically on the German-speaking region starting in 2012.

Rebranding and Public Debut

The platform officially launched on November 1, 2003, and underwent a significant rebranding to XING in November 2006. This period also saw the company's initial public offering.

Funding and Expansion

An early public listing was a key step in securing capital for expansion. This allowed the company to strengthen its position within the competitive social networking industry.

Early Investors

While specific details on early investors and their initial stakes are not readily available, venture capital firms are typically involved in such early-stage companies. These entities often provide crucial funding for growth.

The initial ownership structure of New Work SE, established as OPEN Business Club AG, was primarily shaped by its founder, Lars Hinrichs. While detailed breakdowns of early equity splits are not publicly disclosed, the company's trajectory involved an early public offering which would have broadened its shareholder base. Understanding the Revenue Streams & Business Model of New Work provides context for the value proposition that attracted early investment and shaped its ownership landscape.

Key Milestones in Early Ownership

The early years of the company were marked by strategic decisions that influenced its ownership and market position. These included its initial global focus and subsequent pivot to the German-speaking market.

• Founding as OPEN Business Club AG in August 2003.
• Official platform debut on November 1, 2003.
• Rebranding to XING in November 2006.
• Early public offering to secure expansion capital.
• Strategic shift to focus on the German-speaking market from 2012.

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The ownership of New Work SE has seen a significant transformation, culminating in its transition to a private entity. Key events, including substantial stake acquisitions and a subsequent delisting, have reshaped its shareholder structure.

Hubert Burda Media's influence on New Work SE grew substantially over the years, culminating in its complete acquisition. This strategic move has transitioned the company from a publicly traded entity to a wholly owned subsidiary, granting its parent company full control over its future direction.

Ownership Evolution of New Work Company

New Work SE's ownership journey is marked by a progressive increase in Hubert Burda Media's stake, leading to its current status as a private company. This shift impacts its corporate governance and strategic decision-making.

• Hubert Burda Media's stake grew from 25.1% in 2009 to over 50% by 2012.
• By March 2024, Burda Digital SE held approximately 74.2% of the shares.
• A delisting agreement was finalized in June 2024, with the company delisting from the Frankfurt Stock Exchange in August 2024.
• In June 2025, a squeeze-out request was approved, making New Work SE a wholly owned subsidiary of Hubert Burda Media.
• This acquisition means New Work Company ownership is now fully consolidated under Hubert Burda Media.
• Understanding the Competitors Landscape of New Work can provide context for these strategic ownership changes.

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As of June 2025, the board of directors for the company has been restructured following its acquisition. The Supervisory Board now consists of three members, reflecting the company's status as a wholly-owned subsidiary.

With Hubert Burda Media now holding 100% of the shares as of June 2025, the voting power is entirely consolidated under Burda Digital SE. This shift means that all decisions regarding company strategy, leadership appointments, and governance are fully controlled by the parent entity. The previous voting structure, which would have applied to publicly traded shares under a one-share-one-vote principle, is no longer relevant due to the full privatization and squeeze-out of minority shareholders. This current structure facilitates streamlined decision-making that is directly aligned with Hubert Burda Media's corporate objectives, ensuring a clear path forward for the company's strategic direction. Understanding the Mission, Vision & Core Values of New Work provides context for these strategic decisions.

Ownership and Control

The company's ownership structure has been fully consolidated under its parent entity. This concentration of ownership simplifies decision-making processes and ensures alignment with the parent company's strategic goals.

• Hubert Burda Media holds 100% ownership as of June 2025.
• Voting power is exclusively with Burda Digital SE.
• Minority shareholders have been bought out.
• Decision-making is streamlined and aligned with parent company objectives.

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Over the past few years, the ownership landscape of New Work SE has undergone a significant transformation, moving from a publicly traded entity to a wholly owned subsidiary. This shift reflects a strategic decision by its majority stakeholder to consolidate control and streamline operations.

The privatization of New Work SE, culminating in its complete acquisition by Hubert Burda Media in June 2025, signifies a strategic pivot towards private ownership. This move allows for greater flexibility in implementing long-term strategies, free from the immediate pressures of public market scrutiny. The company's recent restructuring, including workforce adjustments and a renewed focus on core brands like XING and kununu, aligns with this objective. These internal changes are mirrored by shifts in leadership, with Henning Rönneberg taking over as CEO in June 2025 and CFO Ingo Chu departing mid-2025, indicating a clear direction under new, consolidated ownership. This strategic repositioning aims to enhance operational efficiency within the German-speaking e-recruiting sector, a market with evolving dynamics that impact its Target Market of New Work.

Ownership Consolidation

Burda Digital SE's increased stake to 74.2% in March 2024 marked a significant step towards full privatization. The subsequent delisting in August 2024 and the minority squeeze-out in June 2025 finalized this transition.

Strategic Repositioning

The company is undergoing restructuring, including workforce adjustments and a renewed focus on key brands. Leadership changes, such as the new CEO appointment, underscore this strategic realignment.

Impact of Privatization

Privatization allows for uninterrupted implementation of long-term strategies without public market pressures. This can lead to more agile decision-making and investment in core business areas.

Market Focus

The company is concentrating its efforts on the German-speaking e-recruiting market. This focused approach aims to strengthen its position and enhance efficiency in this specific sector.

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