July 11, 2007
Netscape Founder Scores $44M for Ning
Marc Andreessen, who made his cyber bones when he founded Netscape, has landed $44 million in financing for his Ning social network.
The money, which mostly came from Legg Mason as well as Andreessen himself, will be used for adding developers to expand product offerings, scaling operations and supporting increased traffic.
Andreessen confirmed the news on his blog, saying Ning was "substantially expanding" its products and adding features as fast as his team can.