AOL Plans to Sell or Close Bebo, its Social Network
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.
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.”
Google trounces Yahoo and Bing when it comes to ad impressions and CTR, but the numbers are much closer than they were three years ago. Less competition - and lower CPC - is definitely a factor.
