According to several inside sources, Google is reportedly in serious talks to acquire the social platform Meebo. Although Meebo CEO Seth Strenberg has not commented on the negotiations, Google is expected to pay approximately $100 million for the seven-year-old technology company.
As the tech economy was plummeting in mid-2008, Meebo managed to raise $25 million on a $200 million valuation. The latest round of funding for Meebo, which included Series D investments from Khosla Ventures and Sequoia Capital, raised $27.5 million in 2010. Since some of the venture capitalists invested at a $200 million valuation, several prominent investors are expected to lose money and are likely disappointed with the performance of the investment.
Meebo has over 250 million monthly global visitors and is widely used by both consumers and publishers. Since Meebo is the right price, has development talent, and has focused on mobile and social apps, it is not surprising to learn of Google’s interest in this social company.