Neogen plans to become regional hi5 competitor

“We are betting on social networking; we see Neogen as a competitor for hi5 in Romania and in the region, meaning Moldova, Bulgaria, and Serbia,” Neogen’s General Manager, Calin Fusu, told Business Standard.

This February, Neogen registered 1.36 million single visitors and more than 128 million hits, according to Romania’s Study for Rating and Internet Traffic (SATI).

hi5 currently ranks first, in terms of active users, with a monthly 1.6 million active users and 2.24 million registered users, according to Calin Rotarus, who sells advertising on hi5. Neogen is the second-largest social network in Romania, with a monthly 1.3 million active users and 1.4 million registered users, Fusu indicated. He added that the portal plans to double traffic this year.
Neogen’s main source of income will remain BestJobs this year, although advertising income is growing fast.

The portal posted €2 million in turnover in 2007 and targets €3.5 million this year.

Last spring, Fusu sold a minority share package of Neogen to U.S. investment fund Tiger Global Management and Dutch investment fund Wouwer. Neogen’s competitors on the local market are Netbridge and eJobs.