Andreessen-founded Ning cuts staff, free service
Bianchini had co-founded Ning with Valley legend Marc Andreessen, and it had raised $119 million in venture capital, including a whopping $60 million round in early 2008 that Andreessen famously characterized as a stockpile for the “nuclear winter” that would help get it through the economic recession.
Jason Rosenthal, the Ning COO who took over as CEO from Bianchini, sent an e-mail memo to company staffers on Thursday that somebody forwarded to industry blog TechCrunch. He explained that Ning will be focusing on premium networks–which come with additional features and are not ad-supported–because that’s where the company’s business successes have been, thus far…
Read Article Here…
n
