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Archive for 14/03/2008

AOL snaps up Bebo

beboscrn.jpgTime Warner’s AOL internet division will buy social network Bebo for $850m (£418m) in cash, bolstering its consumer web offerings even as the media conglomerate mulls splitting off the business.

Privately-owned Bebo claims about 40 million global members, and the deal promises to significantly expand AOL’s growing business of selling advertising on the internet outside of the US.

The site is one of the top social networks in Britain and the market leader in Ireland and New Zealand, but it is yet to create the same buzz in the US.

Source: ZDNet


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