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AOL To Acquire Global Social Media Network Bebo
by Christopher Closset
Bebo has a reported 40 million unique users on a global basis. AOL says in its press release, "Together with its AIM and ICQ personal communications network, the acquisition will give AOL a premier position in the fast growing world of social media with a network of approximately 80 million unique users."
The deal comes just one week after AOL’s launch of Open AIM 2.0, an initiative that allows the developer community greater freedom to access the AIM network and integrate AIM into its sites and applications, and the announcement by Apple of a downloadable AIM application for the iPhone.
Under the terms of the agreement, AOL will acquire Bebo for $850 million in cash.
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