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AOL Buys Bebo For $850 Million
By Joseph Hunkins at March 13, 2008 1 CommentsAOL is about to acquire Bebo for $850 million. AOL announces the Bebo acquisition. Bebo is the the third place Social Network in the US and far behind both Myspace and Facebook, but it is the first place social network in the British Isles and Second in New Zealand.
Based in London and begun in 2005, Bebo lists these features as major aspects of the Bebo philosophy of social networking:
Open Media: Open Media gives media companies free and open access to Bebo’s users worldwide and the Bebo community free and open access to thousands of hours of premium entertainment content from some of the world’s best known media brands.
Open Social: In November 2007, Bebo announced that it is joining OpenSocial, a set of common APIs for building social applications across the web. In addition to this Bebo announced plans for a Developers Platform.
Most analysts argue that AOL’s internet prospects have been declining for some time, and this move is likely to breath some life into the sagging AOL empire. This also may suggest that AOL and Yahoo are now extremely unlikely to merge given the size of this deal. CNBC has more about this deal and how it might affect the proposed Microsoft takeover of Yahoo.
Labels: AOL, bebo, Microsoft, social networks, Yahoo
One Comment
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