AOL snaps up Bebo

Time 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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This entry was posted on 14/03/2008 at 11:37 am and is filed under Social Networks, Technology News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.

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