Tech Crunch is reporting that do-it-yourself social network Ning despite losing market share in the U.S. social media space added another $15 million to its social media war chest from LightSpeed Venture Partners. To date, Ning has raised $119 million in social media capital. Its other investors include Allen & Co., Legg Mason, chairman and co-founder Marc Andreessen, and Reid Hoffman. Ning allows anyone to create their own social network customized to their particular interest or social group. Earlier this year, Ning passed the one million social network mark (it is now up to 1.3 million). In the U.S., unique visitors actually declined 10 percent from May, 2009 to June, 2009, according to comScore. Ning had 5.1 million visitors in the U.S. in June (its worldwide audience is about three times as large). The company attributes the decline to “some downtime in June as we expand and optimize our infrastructure to support the growth that we are expecting in the next 12 months.” Ning says it is adding 4,000 new Ning Networks every day and one million registered users every 15 days.
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