AOL takes over Bebo
It’s been a while since we heard any talks of a social networking takeover.
Last we heard Microsoft cut itself a “slice” of Facebook. It was a bit of an Oliver Twist serving in all honesty with Microsoft saying “please sir, can I have some more ?” and Facebook bigwigs saying “are you joking ?” but that was back in October. Hardly recent.
Well, you might be surprised to hear that lesser-known social notworking site, Bebo, has been bought out by AOL.
You probably remember the hefty (and dumb) $240 million (about 120 million quid) Microsoft paid for it’s measly 1.6 percent stake in Facebook.
We remembered too, which is why we were surprised to hear that Bebo was only worth £420 million. While we agree that £120 million is a silly amount to spend on a 1.6 percent stake in anything, we can’t help but think that they could have gotten more for Bebo than what they did.
Ranked at number one in Ireland, the UK and New Zealand and number three in the States we wonder if it wasn’t a bit unfair.
On the other hand this could just be another indication that social networking is on the way out. . .