Meebo, a US-based social networking company backed by cable company Time Warner’s corporate venturing unit, has Mindset Media, a developer of advertising targeting technology for an undisclosed amount.
In December, Meebo raised $27.5m in its slightly extended series D round.
Venture capital firm Khosla Ventures led the D round and was joined in the consortium by four of Meebo’s six previous investors: VC peers Sequoia Capital, Draper Fisher Jurvetson (DFJ) and Jafco and Time Warner Investments. The two non-participants were VC firms True Ventures and KTB Ventures, according to Meebo’s list on its website.
Meebo has now raised $70m since launch in 2005 after last raising $25m in April 2008 from Time Warner Investments; KTB Ventures, the US operation of KTBnetwork, which is the largest private equity firm based in Korea with about $10bn under management from local companies Samsung, LG, SK Telecom and Hyundai; Japan-based VC Jafco Ventures; and Sequoia and DFJ.
Its series B round from DFJ and Sequoia raised $9m in January 2007 and its first institutional round, of $3.5m, came from Sequoia in December 2005.