Google buys social startup Meebo

Updated on: 2012-06-06 || Source: cnn.com

NEW YORK (CNNMoney) -- Google is buying the social startup Meebo, the company announced Monday, in a move to boost its Google+ networking service.

Meebo, which was founded in 2005, started as a Web-based instant-messaging company. That "Messenger" service is still available, but Meebo has since expanded to offer social and advertising products.

Its flagship product, called "the Meebo Bar," wraps a webpage with options to share content on sites like Facebook and StumbleUpon. Users can also get recommendations for similar sites, and save content they like. The bar typically includes an ad as well.

Meebo announced its acquisition in a blog post Monday. Terms of the deal weren't disclosed. The tech blog All Things Digital posted a report in May that said Google was considering a $100 million price tag at that time.

Google (GOOG, Fortune 500) declined to comment on the financials, though it did release a short statement strongly hinting that Meebo employees will be integrated with its own Google+ social networking team. Google did not reply to a request for comment on how many Meebo employees will join its ranks.

"We are always looking for better ways to help users share content and connect with others across the Web," a Google spokeswoman said in an e-mailed statement. "With the Meebo team's expertise in social publisher tools, we believe they will be a great fit with the Google+ team."

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