Anybody knows about ning.com

Hey,
Our new site "GenealogyWise.com" is launched. No, No I haven't developed it. But its having too good social networking features.
Withing 3 days we have 3500 users registered for the website.
I was not knowing in which technology it is used so I saw view souce and came to know that it is using "ning.com" api. So its in PHP.

It's amazing. you just see what ning.com offeres. We need to develop nothing...
If anybody have idea about ning or worked in it, please add details...
some links to refer.
http://www.ning.com/
http://developer.ning.com/

It seems that we will lost our jobs... as developers need to do nothing... framework will handle all the tasks..
So if any body knows about ning (I guess leena knows as she is in research dept.) Please through some light on it.

Thanks....