Recession? What recession? Meebo reportedly aims to raise $25-30 million
The instant-messaging start-up is hoping to hit a valuation of $200-250 million, the blog VentureBeat said.
This would likely peg Meebo's valuation at between $200 and $250 million, a whole lot more than the $60-70 million that it was reportedly worth after a funding round last year. As VentureBeat's Matt Marshall noted, investment banking flop Bear Stearns was just sold for $236 million. Never mind that reports showand the economic forecast recently.
Meebo, which is supported by advertising revenue, has reportedly hired the San Francisco bank Montgomery & Co. to handle the effort, and some big names in the social-networking space--possibly even Facebook or News Corp.'s MySpace.com--may be interested. MySpace operates its own instant-messaging service, and Facebook is.