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While everyone's been umming and arring over the future or Yahoo!, AOL has slipped in under the radar with a major acquisition play - picking up social network Bebo for $850 million cash.
Bebo is 3rd largest social network in the US, a major player in the England and holds top spot in New Zealand and Ireland. It's estimated to have over 40 million users worldwide.
This acquisition is an interesting play by Time Warner, given Jeffrey Bewkes (Time Warner Chief Exec) recent statement that they are open to a deal on AOL. With a strong social network in the arsenal, AOL would look like a far more attractive buy. | |
(March 2008) (
