AOL Acquires Social Networking Site Bebo for $850 Million

News

On 13 March, Time Warner's AOL division announced it had entered into an agreement to acquire social networking site Bebo for $850 million.

Bebo was established in 2005 and now has an estimated membership of 40 million, constituting the third biggest social networking site behind MySpace and Facebook. Bebo estimates that its users view an average of 78 pages per usage day. The company has approximately 100 employees operating in offices in the UK, San Francisco and Texas.

The move is intended to complement AOL's Internet communications services (ICQ and AIM), in addition to its online advertising business, known as Platform A.

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