AOL Sells Social Network Bebo

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Aol LogoAOL has finally found a buyer to offload Bebo, the social network site they purchased in 2008 for $850 million. The network since that time has been a monumental flop for the company.

AOL has been searching for a Bebo buyer for quite some time now, announcing in April that they would shut down the site if a suitable buyer could not be discovered.

At this time the buyer has not been revealed, what we do know is that the move matches AOL’s recent sell off of poorly performing and poorly managed programs including their ICQ program which was picked up by DST. Unlike Bebo ICQ is at least still popular in certain countries. [Read more…]