Rumor: Bebo Acquired for $1 Billion
UPDATE 2008-3-13: AOL said on Thursday that it will pay $850 million in cash to acquire Bebo, a U.K.-based online social network with more than 40 million members. Bebo currently is the largest social network in Ireland and New Zealand, and third largest — well behind Facebook and MySpace — in the U.S. Bebo was started in 2005 by a married couple.
Another billion dollar social networking deal. Details soon.
From TechCrunch 2008-2-13:
Following up to our post last week talking about a possible acquisition of social network site Bebo: A high level source has told us that Bebo has been in discussions via their investment bank, Allen & Co., with a number of potential buyers, and says that the company signed a deal on Monday to be acquired. The rumored price is $1 billion.
The buyer is unclear, although we are still betting on Google given that Bebo fits well with Orkut (very, very small user overlap). Microsoft has been mentioned as another possible candidate, although they seem to have their hands full right now with Yahoo. Other potential buyers, including News Corp. (mentioned in our previous post), Yahoo and others, have backed out due to price, from what we’ve heard. There are other potential buyers as well (CBS, Viacom, Comcast, others).