“We had a bunch of VCs talking to us about potentially putting more money in,†Sternberg said. “We said no. A lot of things happen when you raise a VC round, and they really slow you down.â€
Eventually, Meebo did raise money from venture investors – about $3.5 million from Sequoia Capital. But that was after the company was well on its way to showing that its service was a hit with consumers. At the time, Meebo had about 200,000 daily log-ins.â€