Rumor: Ning Being Shopped Around For $150 Million
Ning has recently been shopping around themselves for roughly $150 million according to sources with AllThingsD. Ning, co-founded by Marc Andreessen, gave a pitch to Google, Groupon, and several private equity companies.
The sale would be a break-even for investors. Venture capitalists have put in about $120 million into Ning since the company was founded in 2004. Investors in Ning include Marc Andreessen, Reid Hoffman, Legg Mason, Allen & Company, and Lightspeed Venture Partners.
Rumor has it that AOL, Demand Media, and GoDaddy approached Ning with interest in an acquisition. The companies are interested in Ning’s technology, which has the ability to create custom social networks. Ning had 400% year-on-year revenue growth. They went from 17,000 to more than 100,000 subscribers with about 60 million monthly active users.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry