Social network creator Ning raises $60M at $500M valuation
Updated
Make-your-own-social-network company Ning has raised a $60 million fourth round of funding.
Co-founder Marc Andreessen, who also founded Netscape, says the funding came at a whopping $500 million pre-money valuation. That’s almost three times the Palo Alto, Calif. startup’s $170 million valuation back in July, when it raised a $44 million third round. Even back then, Ning was something of a poster child for huge (and, some argued, overinflated) Web 2.0 valuations. With the economic downturn,… Continue Reading