Meebo Seeking To Raise Third Round of Funding At $25-$30 Million

Posted Mar 18, 2008

Meebo is an online application that allows users to log into several different instant message systems remotely.  These IM systems include AIM, Yahoo! Messenger, MSN, Google Talk, ICQ, and Jabber.  Meebo launched in 2005 and received $12.5 million in funding from Sequoia Capital and Draper Fisher Jurvetson.  Over 100 million IMs are sent daily through Meebo.  Several media companies use Meebo to connect to their fans through by using Meebo’s chat room features.

The rumor on the Internets is that Meebo is looking to raise an additional $25-$30 million.  And that Meebo has hired San Francisco, Calif.-based investment bank, Montgomery & Co. to help find an investor.  If Meebo is able to raise those funds, their valuation could become $250 million.  Meebo receives 29 million monthly unique visitors per month.

Meebo was started by Sandy Jen and Seth Sternberg.  The company also recently hired Martin Green from CNET to work in business development.

[Information Source: VentureBeat/AllThingsD]