The geniuses at AOL are in final negotiations to sell Bebo for a  fraction of the $850 million paid for the site two years ago. It is rumored the price is about $10 million and the buyer is Criterion Capital Partners. Bebo is the the latest example of a hot internet property that faded in popularity before figuring out how to make money. Many web 2.0 companies are closing down right now for the very same reason – they don’t know how to many money and they cannot raise any money in this environment. You can read the entire AOL story here.