SEO News
Search

AOL Plans to Sell or Close Bebo, its Social Network

jarboe-greg
by , Comments


According to a variety of sources, AOL plans to sell or close Bebo, the social network that it acquired two years ago for $850 million.

Image representing Bebo as depicted in CrunchBase

Image via CrunchBase

In a memo sent to employees, AOL Ventures Executive Vice President Jon Broad, said, "Bebo, unfortunately, is a business that has been declining and, as a result, would require significant investment in order to compete in the competitive social networking space."

He added, "AOL is not in a position at this time to further fund and support Bebo in pursuing a turnaround in social networking."

Reblog this post [with Zemanta]

ClickZ Live New York What's New for 2015?
You spoke, we listened! ClickZ Live New York (Mar 30-Apr 1) is back with a brand new streamlined agenda. Don't miss the latest digital marketing tips, tricks and tools that will make you re-think your strategy and revolutionize your marketing campaigns. Super Saver Rates are available now. Register today!

Recommend this story

comments powered by Disqus