Internet Company Ning Raises New Investment

Jul 13, 2007

Internet company, Ning has raised an investment round. To date, Ning has been mostly internally financed the company's founder and a small group investors. This internal financing has allowed Ning to build its platform and service over the last two and a half years. Ning has announced it is expanding our product plans with a list of features and product capabilities. Ning’s investment round--"Series C"-- has been organized with Allen and Company in New York; wherein it raised $44 million. The round was led by Legg Mason with a number of other investors participating. The venture is intended to scale operations to accommodate the company’s traffic and growth, product design and development efforts, and platform and support programs.