An MBA admissions team will look at your overall GPA, but they will also look for trends that your GPA has improved. As mentioned in the above post, there is a great opportunity for you to use your optional essay to discuss your low GPA and how you improved over time. You can turn this initially negative part of your application into a positive.
Please let me know if I can answer any other questions.
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MBA blogger, US News and Author, The MBA Application Roadmap