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April 7, 2010

AOL looks to offload Bebo

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by Darren Allan

It was only two years ago that AOL bought up social networking site Bebo.

Things haven’t gone well with the acquisition, however, as it now seems that AOL is looking to sell off or even close down the site.

The news came after PaidContent got hold of a company memo, which stressed the competitive nature of the social networking world, and stated that Bebo has been in decline.

The memo went on to say that a large investment would be needed to inject more life into Bebo, but that this wasn’t a move that AOL was in a position to make.

A decision on Bebo’s exact fate will be made in June, but it isn’t looking particularly rosy for the site’s employees.

They’ll be keeping their fingers crossed that AOL can find an interested buyer. AOL itself paid up the best part of $1 billion for Bebo back in 2008, but it’s unlikely they’ll recoup anything near that.

Bebo, which stands for “blog early, blog often”, has been going since the start of 2005.

Story link: AOL looks to offload Bebo

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