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I can't speak for XING as I'm not in Europe - but none of these competitors in my experience have as large of a userbase as LinkedIn - and for a professional networking site, that is absolutely crucial. Two-thirds of the people I network with in real life are on LinkedIn. Plaxo, a "revived" competitor, doesn't have the userbase either.
Unless the other competitors with similar features have some kind of ingenious way to gain many users, LinkedIn will remain at the top. The userbase is important, and even more so in professional networking sites.
Are your parents on MySpace? Probably not. Are they on Facebook? Maybe.
I know many parents that even no about facebook but they all know about myspace. I think myspace has more old people then young people on it. Facebook has a lot of people that are in college and younger. I know so many moms and dads that are myspace my mom don't even know what facebook is.
I'm curious about how investors (Angels, VCs) would look upon such mergers...how do bylaws/term sheets address such situations?