Ning raises $60 million for "nuclear winter"
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A Fast Company cover story isn't the only inexplicable gift social-network startup Ning has received. After raising $44 million last July, Ning has raised another $60 million, cofounder Marc Andreessen reluctantly announced. (A regulatory filing uncovered by VentureBeat forced the news out of him.) Why the eight-figure round for a startup whose annual revenues are likely in the low seven figures? Andreessen says he wanted to "make sure we have plenty of firepower to survive the oncoming nuclear winter."