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.
Since the time Meebo launched in 2005, the company has consistently evolved and grown. Initially, the company launched the Meebo Messenger, which was a web-based instant messaging program that did not require users to download or install software. The Meebo Messenger was compatible with all of the popular IM services and allowed its users to easily chat across AOL, MSN, Yahoo, and the other major IM platforms. However, after Meebo failed to monetize its IM product, the company launched a new social sharing tool bar for web site publishers in 2009. Since the Meebo Bar provided publishers with overlay advertising options and helped promote social actions, it quickly gained traction. The JavaScript tool bar has been widely distributed on major sites including The San Francisco Chronicle and Budget Travel.
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.
Sources Include: AllThingsD & VentureBeat
