Bebo purchased by AOL for $US850 million cash
Posted March 14th, 2008 by peterAOL is to be purchased by Bebo, a leading networking website in a $US850 million cash deal.
Founded by British born Michael Birch and his partner Xochi in 2005, Bebo claims to have 40 million montly users worldwide. In New Zealand Bebo is the favourite social networking website for teenagers.
Bebo president Joanna Shields will continue to run Bebo reporting to AOL president and chief operating officer Ron Grant.
5% of AOL is owned by Google who purchased that share for $US 1 billion in December 2005
Tags: aol, bebo, socal networking
Filed under:Net stuff
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