Social Network Platform NING Receives $60 Million In Funding

Coinciding with a cover story this month in Fast Company, Ning, the social network platform that plays hosts to customized social-network sites such as Thisis50 and The Urban Blogger, has just announced it has secured $60 million in its fourth round of funding raising its value to half a billion dollars. The funding is in response to their rapid growth rate. The CEO Mark Andreesen is reporting that they are including 1,000 new sites on their network a day and they are home to over 230,000 sites at presstime. In a nod to the strength of Hip Hop, they are openly acknowledging that Thisis50 is their most famous social hub. Makes you wonder if Curtis has any stock in this company. Also noted was their need to secure funding in case of financial uncertainty this winter, in light of the pending recession.