Ning, the Web site builder co-founded by Netscape founder Marc Andreessen, has been sold to Glam Media for an undisclosed sum. The site will become a part of Glam's platform portfolio.
Business is restructured to focus on paid customers, a memo from CEO Jason Rosenthal tells its workforce--which is about to be reduced by 40 percent.
The build-a-social-network platform lets site owners keep 50 percent of the revenue generated after PayPal's transaction fees are processed.
The number of Ning users was initially incorrect in this post. It has about 32 million users, and 1.5 million social networks have been built on the Ning platform.
Build-your-own-social-network service makes public a platform that lets users embed more than 90 apps and widgets for things like donation collections or ticket sales.
Its finalized application platform, Ning Apps, goes into private beta on Thursday and will launch in full later this month.
Co-founded by Marc Andreessen and Gina Bianchini, the service launched in March 2007 and has 22 million registered users.
Adult content is no longer tolerated on the build-your-own community-site service; CEO Gina Bianchini says it's because it's difficult and costly to police and maintain.
The social-network builder now has a directory of about 30 applications built with the open-source technology.
CEO Gina Bianchini says that her company is gaining traction, minting a new social network every 30 seconds.