In the scale of huge corporate mistakes, AOL’s acquisition of Bebo in 2008 ranks pretty highly. AOL paid $850 million for the social network, then watched it fade into mediocrity as Facebook left it for dust. Now a series of reports have suggested that AOL has agreed a deal to sell Bebo to a private investment group for a mere $10 million. Ouch. Criterion Capital Partners is pegged as the buyer. However, it seems the deal may not be quite such a disaster for AOL as you might think. TechCrunch suggests that by selling Bebo, AOL will be able to write off most of Bebo’s purchase price for tax purposes, saving it hundreds of millions of dollars in corporate taxes. Source: TechCrunch Source: VentureBeat –
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