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