Updated: TechCrunch reports that German social network Xing might be in talks to acquire Plaxo, the address book updating web service that many dub as an early iteration of a social network. My sources are telling me that there is no deal and all talk
instead of an acquisition is just that talk. Plaxo is not in “play.” The two companies might have new announcements be announcing some sort of a business alliance, next week, independent of each other. dealsthat would also be the first foray for Xing in the US. Lars Hinrich, CEO of Xing declined to comment on the rumors, as did Ben Golub, CEO of Plaxo. (He is addressing this on his blog as well.)
Plaxo is backed by Sequoia Capital, just as Xing-rival, LinkedIn. Xing, LinkedIn and Plaxo share one common trait – they are social networking utilities that target the business users. We will keep you posted on any developments, as find out more details.
Disclosure: We had organized an event in Fall 2006 that was sponsored by Xing.