Legg Mason gets into SNS

See our previous post on Ning…

blog.pmarca.com: Ning news: new investment round

To these ends, we recently closed our first outside investment round — our so-called “Series C” — with a top-notch group of institutional investors. The round was orchestrated by our friends at Allen and Company in New York. We raised $44 million. The round was led by Legg Mason with a number of other investors participating, including me.