... and we are back again, true to the motto 'back and forth empties your pockets'.

No, we sold our position in New Work at the end of the year because the stock markets had generally risen and we wanted some cash.

Now we have seen the worst start to the year for 20 years and New Work has lost a lot of value, so we have picked up the company again as we are still convinced of its future prospects.

For us, the coming turnaround in interest rates speaks in favor of New Work, more investments are being made again and more people are being hired, which should benefit the company, which is operating profitably even now in the 'crisis'.

Yes, LinkedIn is tough competition, but New Work has repositioned Xing in good time and added another exciting platform to its portfolio in the form of Kununu.