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AOL buys Bebo for $850,000,000
By webmaster | March 16, 2008
AOL (American Online), a subsidiary of Time warner entered into an agreement to acquire Bebo for $850,000,000 (£417m).
Bebo is a leading social media website where users connect with their friends, share their photos, interests and favorites. Bebo is one of the leading social networks in the United Kingdom, the number 1 in Ireland and New Zealand. It also ranks the 3rd position in the United States of America. Bebo currently has a user base of 40million and employee base of 100!
AOL plans to integrate the community functions of Bebo in to AIM’s Instant Messaging Platform.
According to AOL’s Chief Operating Officer - Ron Grant , Bebo will operate as a standalone unit within AOL and will be a compliment to the AOL’s online ad network.
Topics: Web 2.0 |