Ning Raises $15 Million Series E, Led By Lightspeed Venture Partners
Social network customization service Ning.com has raised $15 million in Series E funding. This investment places Ning at a valuation of $750 million. Last year Ning raised $60 million at a $500 million valuation.
Ning currently has about 29.3 million registered users and over 1 million social networks. The company was founded by Marc Andreessen and Gina Bianchini. Andreessen recently launched his own venture firm with former partner Ben Horowitz. The venture firm that was started by Andreessen is called Andreessen Horowitz.
“The growth at Ning has been massive in the last year and, combined with the quality of the team and seeing that kind of momentum, it worked out well for us both,” stated Lightspeed Venture Partner Managing Director and co-founder Ravi Mhatre.
[via AllThingsD]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry