Wednesday, July 22, 2009

Ning Raises $15 Million More | Kara Swisher | BoomTown | AllThingsD

Strange days indeed

In a quiet fundraising effort, Ning has raised $15 million more, a round that is valuing the social networking start-up at an eye-popping $750 million valuation.

[…]

In an interview, Bianchini said the goal was to become an even bigger platform for building social networks and the money would be uses for possible acquisitions and other strategic options, attracting more talent and also to offer its social networks more tools to be discovered.

“It’s clear to me when you look the market…there needs to be a place for people to express their interests and passions,” said Bianchini, who noted Facebook and Ning do not necessarily overlap. “We want to be the social network for interests and passions online.”

Ning Raises $15 Million More | Kara Swisher | BoomTown | AllThingsD

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