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Instant messaging service Meebo will today announce $25 million in funding from JAFCO Ventures, KTB Ventures and Time Warner, which spent $850 million to buy social network Bebo in March. Meebo founder Seth Sternberg only began looking for more funding that same month, hiring Montgomery & Co and hoping to raise $25 million to $30 million to set the company's value at $250 million. Today's funding round values the company at $200 million, the WSJ reports. Last year, funding valued Meebo at $90 million. But the real question is, how exactly does anyone expect to make money with instant messaging?
Time Warner follows Bebo buy with Meebo stake, rhyming dictionary in hand
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8:00 AM on Thu May 1 2008
By Nicholas Carlson
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4 comments
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Talk about doubling down your bet. I thought that Meebo was looking to flip, but failed at that and decided to raise more money instead.
Bozo better watch out. He could be next.
If ted taught me anything it's that meebo's one of the shittiest companies on the interskates
Meebo, meebo, bo-bebo
banana-fana fo-feebo
fee-fi-mo-eebo
Meebo!
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