Posts Tagged ‘aol’

AOL looking to sell or shut down social media site Bebo

Wednesday, April 7, 2010 5:46 No Comments

The struggling Internet company AOL Inc. plans to sell or shut down the online community Bebo nearly two years after buying it for $850 million in an expansion of its social-networking ambitions. In an e-mail to employees Tuesday, Jon Brod, who runs AOL’s startup acquisition and investment unit, AOL Ventures, said Bebo would need a “significant investment” to remain competitive. Although Bebo has been in the shadow of rivals such as Facebook, it has been strong in foreign markets, including Britain. AOL wanted to tap that strength abroad to drive traffic to AOL’s other free, ad-supported Web sites, especially internationally, while leveraging AOL’s ins

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