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What is Bebo?

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22.8.2012

A social networking website launched in 2005 that is very similar to Facebook. Users receive a personal profile page where they can post blogs, photographs, music, videos and questionnaires which other users may answer. Additionally, users may add others as friends and send them messages, and update their personal profiles to notify friends about themselves.

It is currently owned and operated by Criterion Capital Partners who took over from AOL in June 2010. The site was acquired by AOL on March 13, 2008 for $850 million. The founders and executives of Bebo had stated that their end goal had always been to sell out to a larger company, as they were well aware of the site's platform instabilities.

After only two years with little-to-no investment in developing Bebo so it could remain competitive with Facebook, AOL announced it was planning to sell or shut the network down, with the sale being completed on June 17, 2010 to Criterion Capital Partners for an undisclosed sum which was reportedly under $10 million.

The BBC said that the AOL purchase of Bebo was "one of the worst deals ever made in the dotcom era",[2] and it cost then-CEO of AOL Randy Falco his job.
 

 

Sources:
1 Letzing, John (April 6, 2010). "AOL pulls plug on Bebo social networking effort". The Wall Street Journal (New York). Retrieved 2010-04-06.
2 "Bebo sold by AOL after just two years". BBC News. June 17, 2010. Retrieved 2010-06-17.
3 "AOL Sells Bebo to Criterion for Less Than $10 Million". Bloomberg Businessweek. June 17, 2010. Retrieved 2010-06-18.
4 http://allthingsd.com/20100407/bebo-not-worth-a-pail-of-spit-to-aol-this-comes-as-a-shock-to-exactly-hmm-no-one/


 

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