AOL buys social network BEBO for $ 850 million

AOL, online division of Time Warner Inc. on Thursday announced that they were going to pay $ 850 million in cash for the social network Bebo (http://www.bebo.com), currently in which more than 40 million registered users.

Bebo is one of the largest social networks in Britain, number one in Ireland and New Zealand, and number three in the United States. Bebo has approximately 100 employees in offices in the UK and the USA.

corp.aol.com/press_releases/2008/03/aol-acquire-global-social-media-network-bebo