The red-hot social media company Meebo has secured $27.5 million in Series D funding from Khosla Ventures, bringing its total financing to $70 million.
That’s not quite Twitter territory, but the dollars being funneled into Meebo are indicative of the company’s current upward trajectory. While originally launched as an aggregation platform for instant messaging, over the past year, Meebo’s toolbar has popped up on more and more content sites.
The Meebo MiniBar instantly makes sites more "social"—users can share content with friends via multiple social platforms like Facebook, without having to endure registration or log-in requirements. According to company officials, the Meebo MiniBar now reaches a third of the U.S. Web audience, or 71 million unique users (close to 142 million globally), per comScore’s November report. Recent partners include The New Republic, The Philadelphia Inquirer’s Philly.com, Kiplinger and The Smoking Jacket.
That expansion, coupled with increased advertiser interest, drove the company’s new round of investment, said Meebo CEO Seth Sternberg. “If you look back at 2010, reach doubled and revenue tripled,” he said.
Besides Khosla, Meebo’s other investors include Sequoia Capital, Draper Fisher Jurvetson, Time Warner, True Ventures and Jafco. Going forward, Meebo plans to pour its new capital into the company’s hugely ambitious venture for 2011—to bring social connectivity to Web content in the same fashion that Facebook and Foursquare have done to location-based sharing. The vision is that Web users will start "checking in" to their favorite sites habitually, while following influential content consumers to discover new sites across the Web.
“We want to nail this,” said Sternberg. “This could be a significant shift in consumer behavior. This is so potentially huge.”