I just got back from back-to-back (to back) holiday parties and the rumors are flying that Meebo, which I wrote about a couple of days ago noting their stellar growth, has closed funding from Sequoia Capital at a $10 million pre-money valuation. I have not confirmed this with the company and it could be inaccurate. Thatâ€™s quite a valuation for a company that is barely 12 weeks old.
Wow…they are just all over the news these days.
According to this article it’s been confirmed that Sequoia has promised significant funding to this project:
No real details yet, but Iâ€™m hearing that the pre-money valuation was $9 million, not $10 million as I originaly reported. I assume the investment was in the $3 – $4m range.
The definitely raises the question “Are we seeing the Tech Bubble 2.0?” Hmm…there is a strange amount of capital that is being invested in several up and coming web 2.0 companies, but we’ll have to wait and see if the capital risks will pay off.