Ning Celebrates One Million Social Networks
Ning Celebrates One Million Social NetworksApr 21 2009 - Social media - Farhad Divecha
Around the same time that Ashton Kutcher managed to collect one million followers on Twitter, Ning has created its one millionth network.
Ning, the Silicon Valley based company that allows people to build their own social networks, had its beta launch in 2005 and full launch just about two years ago, in 2007. Last week, they attained the status of having one million user-built networks, up from half a million networks last October.
Only about 200,000 (one-fifth) of these networks are currently active. Of the 22 million registered users, only about 6.1 million users are believed to be active.
Even though Ning took the decision to shut down almost 20% of their pages in December 2008, as they contained adult or pornographic material, CEO Gina Bianchini told CNet News that they made up their lost clientele by February 2009.
Networks created by Ning users are based on any subject that the users are concerned about. The 20% of social networks that are currently active on the site receive almost 2.5 million bits of content every day, including images and comments, and over 1,000 new networks are created every day.
The company has tried to remain innovative and up-to-date with technology by adding new features, such as a ‘persistent chat’ feature, as is found on Facebook and providing a directory of social applications for network creators. They have also revamped their home page recently.
In the initial stages of their existence, Ning had three separate sites for videos, photos and groups but they have all been merged into a single entity now. According to estimates last year, the company was valued at $500 million, which has probably gone up now that they have grown past a million networks. Their revenue of about $10 million comes through paid accounts, advertising and premium features.