Meetup worth $40 million?

Filed in archive Venture Capital on April 14, 2006

PE WeekWire reports about MeetUp's latest round:

"MeetUp Inc., a New York-based provider of Internet software for managing community groups, last month disclosed that it had sold just over 10% of the company to eBay, Omidyar Network, Draper Fisher Jurvetson, Esther dyson, Allen & Co. and former Senator Bill Bradley. But they wouldn't say how much they sold it for. So thank goodness for regulatory filings. First, eBay reported that its participation was $2 million. Then, a Meetup filing dated March 15 indicates that the total round (Series C) came in at around $4.62 million. So, carry the one and transpose your decimal points to get... MeetUp is worth somewhere in the neighborhood of $40 million."