AOL Buys Bebo for $850m
In the US, Bebo only trails the big two players when it comes to social networking sites (those of course, being Myspace and Facebook). Bebo clocks in at a respectable 40 million members worldwide, which may make the $850m pricetag seem on the small side. I don't know when $850m can ever be said to be small, but when you consider Microsoft paid $240m for 1.6% of Facebook last year and that News Corp. now think Myspace may be worth $15bn then it does sound like it may be a good deal. AOL will be putting down the $850m (£417m) in cash, though presumably not by driving a truck full of bills to Bebo's front door. Now AOL already has a social networking site of sorts in AIM Pages (profiles tied to its instant messaging app), but I guess it wanted a more established slice of the pie.