Ning Adds Fresh Face to Social Networking

Today, more than 630,000 social networks have been created on Ning, ranging from FirefighterNation to The Jazz Network, allowing users to join a portfolio of networks for their various interests. If an individual or business wants to launch a social network, Ning offers options including chat, music, photos, videos, blogs, forums, groups, an event calendar, RSS feeds and more. Users can even add their own logo, plus networks can be fully customized through open CSS for look and style.

Going forward, Bianchini says the company will continue to improve high-use features such as its media player and launch network applications around the end of January.

"What that essentially will mean is that any third-party developer who wants to create a new feature for networks across the Ning platform can upload it, and any network creator can take advantage of that new feature with a click," says Bianchini.

As an example, if a network creator wanted to add an e-commerce store, he could have it seamlessly integrated into his network with a single click. All of today's current features are free, including the initial network setup. Ning drives revenue by hosting ads on the created networks. In addition, Ning also offers a few premium services. For monthly fees of $24.95, creators can remove Ning promotion links and control their own ads (or remove them completely). For $4.95 per month, they can run the network on their own domain.

The company had a valuation of $500 million earlier this year before Ning secured its fourth round of financing for $60 million, bringing total funding to about $104 million. To date, Ning has not accepted any venture capital money, and outside of Andreessen investing his own money, Bianchini says Ning has raised everything through angel investors, friends and several investment firms like T. Rowe Price and Legg Mason. (Microsoft (MSFT Quote) owns a stake in Facebook, and News Corp (NWS Quote) owns MySpace.)