AOL buys Bebo for $850 million
Thursday, March 13th, 2008AOL acquired global social networking site Bebo.com for $850 million in an all-cash deal. Bebo has over 40 million members, and ranked third after Facebook and MySpace. Bebo is very popular in the United Kingdom and has a fast-growing global audience.
AOL hopes to leverage its advertising sales business across Bebo’s network. When integrated with instant messaging services ICQ and AIM, it is expected to reach 80 million members.