Marc Andreessen and Ben Horowitz decided not to invest in Instagram, costing their fund an estimated $100M

Andreessen-Horowitz raises $1.5B for third fund in three years

Since it was founded in June of 2009 Andreessen-Horowitz has emerged as the hottest new name in venture funding. Part of the firm’s cache comes from its aggressive approach. Today’s announcement that Andreessen-Horowtiz has raised another $1.5 billion, which everyone knew was coming, will only increase that. Overall, this means Andreessen-Horowitz has $2.7 billion under management.

Dylan’s Desk: Software is not eating the world

EDITOR’S NOTE: Each week, I’m writing a column on business and technology called Dylan’s Desk, while Dean Takahashi is writing a column on video games called The DeanBeat. They are available to newsletter subscribers a whole day before they appear on the VentureBeat website.

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Glam acquires Ning, boasts that it’s now No. 2 in reach behind Facebook

Glam Media, a content and media company focused on women but with increasing ambition, has acquired Ning, a web service that lets people build their own social networks. The purchase price was undisclosed, but the deal is well below Ning’s $750 million valuation when it was at the peak of its hype a few years ago.

Andreessen-Horowitz brings enterprise pro Peter Levine on board

Enterprise pro Peter Levine, a former manager at Mayfield Fund that was a part of Citrix’s $500 million acquisition of XenSource, is joining the storied venture capital firm Andreessen-Horowitz to man its coverage of the enterprise sector.