Online publishing giant Glam Media has bought Ning, Marc Andreessen’s company that helps users build specialised social networks.
Bloomberg reported the price as $150 million, which is about 5x Ning’s estimated revenue for this year.
Glam is a massive online publishing network with more 2,500 publishers and more than 200 million users, putting it regularly among the top 10 Web sites. It’s on track to surpass $100 million in revenue this year.
Andreessen founded Ning — his third company after Netscape and Loudcloud — a few years back, and it now hosts more than 100,000 special-interest social networks.
Andreessen will be joining Glam’s board of directors. He explains more about the deal on his blog.
Allen & Co. represented Ning in the transaction. Bank of America Merrill Lynch represented Glam.
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