Meebo Opens Site to Developers

From the WSJ:

Two years ago, Meebo began offering technology that enables instant messaging through a Web site without the user downloading software from other companies. Now, in a bid to become a broader "destination" site and cash in on the online-ad market, the Mountain View, Calif., company will allow outside software developers to build programs and applications around its instant-messaging technology

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The company's transformation shows how hot the trend of social networking and Web-based "communities" has become, and how eager venture capitalists are to fund such ventures, despite questions about their profit potential. Meebo started collecting revenue only two months ago, from ads sold inside its chat rooms. The company, with its focus on live activities, "has the potential to be a fabulous business" and earn money, said Roelof Botha, a partner at Sequoia.