He said the investment would help Ning continue its rapid expansion (over 230,000 networks on Ning now, growing at over 1,000 per day) and "make sure we have plenty of firepower to survive the oncoming nuclear winter."
Ning co-founder CEO Gina Bianchini is featured on the cover of the current issue of Fast Company, which contains a glowing profile of the startup. But skeptics have raised questions about whether the company's business model, which includes $20 monthly subscriptions, will match its hype.
--Mark Walsh