It's Official: Meebo Raises $25 Million From Jafco, Time Warner and KTB
Meebo was looking for a buyer through their investment bank, Montgomery & Co., but moved to a fundraising round earlier this month when there were no takers at the price they wanted. The rumored valuation on the financing was $200 million.
Meebo was pitching strategic partners hard to join the round, including eBay, Fox/MySpace and AOL. Time Warner/AOL obviously sees something they like. Last month the two companies started working more closely with the release of Open AIM 2.0.
This round also signals that Meebo will be looking to Asian expansion. Jafco is a Japanese based fund; KTB is Korean.