Social network Bebo may not be long for this world, after parent company AOL admitted that it’s not willing to continue investing in the site. “Social networking is a space with heavy competition, and where scale defines success,” says an internal memo from AOL Ventures EVP Jon Brod. “Bebo, unfortunately, is a business that has been declining and, as a result, would require significant investment in order to compete in the competitive social networking space. AOL is not in a position at this time to further fund and support Bebo in pursuing a turnaround in social networking.” The memo says AOL hopes to find a buyer by the end of May. The company paid a whopping $850 million for Bebo in March 2008. Source: PaidContent

EarPods and phone

Tools: platforms to help you reach new audiences

Tools: Kaiber

In the year or so since its launch, AI startup Kaiber has been making waves,…

Read all Tools >>

Leave a comment

Your email address will not be published. Required fields are marked *