42244 1 3 econsultancy_xml <p>This third round of funding was led by Legg Mason with other investors participating, including Netscape founder Marc Andreessen. The $44m (£22m) round was based on a valuation of more than $200m (£99m). </p> <p>The company had been privately financed, with Andreessen having previously invested around $9m (£4.5m). </p> <p> <a href="http://blog.pmarca.com/2007/07/ning-news-new-i.html">According to Andreessen:</a> </p> <blockquote> <p> <em>"We will be investing that money in our business -- in scaling our operations to accommodate our traffic and growth; in our product design and development efforts; and in our platform evangelism and support programs. Apart from those investments, we plan on staying as lean and focused as we possibly can.</em>"</p> </blockquote> <p>Since relaunching in February this year with a simplified platform, Ning has grown steadily. It currently has upwards of 5m monthly visitors.</p> <FormattedContent xmlns="http://www.e-consultancy.com/schema/formattedContent/"> <Paragraph>This third round of funding was led by Legg Mason with other investors participating, including Netscape founder Marc Andreessen. The $44m (£22m) round was based on a valuation of more than $200m (£99m). </Paragraph> <Paragraph>The company had been privately financed, with Andreessen having previously invested around $9m (£4.5m). </Paragraph> <Paragraph> <Link URL="http://blog.pmarca.com/2007/07/ning-news-new-i.html" Window="New">According to Andreessen:</Link> </Paragraph> <Block> <Paragraph> <Quote>"We will be investing that money in our business -- in scaling our operations to accommodate our traffic and growth; in our product design and development efforts; and in our platform evangelism and support programs. Apart from those investments, we plan on staying as lean and focused as we possibly can.</Quote>"</Paragraph> </Block> <Paragraph>Since relaunching in February this year with a simplified platform, Ning has grown steadily. It currently has upwards of 5m monthly visitors.</Paragraph> </FormattedContent> 2007-07-10T10:12:00+01:00 1 1 econsultancy_xml <p> <strong>Social network platform Ning has raised $44m (£22m) in a Series C round of funding, one of the largest social network funding rounds so far.</strong> </p> <p>The <a href="http://www.ning.com/">Ning</a> platform allows users to design, mashup and build web apps, including social networks. Some 73,650 social networks have been created on Ning's platform since it was launched in October 2004. </p> <FormattedContent xmlns="http://www.e-consultancy.com/schema/formattedContent/"> <Paragraph> <Emphasis>Social network platform Ning has raised $44m (£22m) in a Series C round of funding, one of the largest social network funding rounds so far.</Emphasis> </Paragraph> <Paragraph>The <Link URL="http://www.ning.com/" Window="New">Ning</Link> platform allows users to design, mashup and build web apps, including social networks. Some 73,650 social networks have been created on Ning's platform since it was launched in October 2004. </Paragraph> </FormattedContent> false 1477 363761 Ning raises another $44m false 2007-07-10T11:24:00+01:00 ning-raises-another-44m 2009-04-28T22:53:42+01:00 2009-04-28T22:53:42+01:00 96