Interesting piece (full of high praise) on Ning from  fastcompany.com. Fast Company posits that viral expansion loops work exponentionally, like compound interest, or, umm… the Borg.  Adam Penenberg writes, "By June, there were 60,000 Ning nets and by August, 80,000. At year's end, there were 150,000, and today, more than 230,000. About 40% of Ning's social networks originate outside the United States, and members from 176 countries have signed up, with the service already available in several languages, including Chinese, Japanese, Spanish, and Dutch." We've used Ning for almost exactly a year now (started with our Area603.com site and then added EncoreBuzz) for some of our social networking work at the paper and out related sites.   An excellent free social networking platform with paid options if you want to add your own ads, domain, etc.

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