AOL Set To Sell Or Shut Down Bebo

Struggling social networking site Bebo is to be shut down or sold by AOL, just two years after it was purchased for close to $1 billion (£550 million).

At the time of paying such a hefty price Bebo was in competition with MySpace and Facebook for top social-networking site. User figures have dropped from nearly 40 million per month worldwide, to just 12 million as of February 2010.

Bebo’s UK office, based in central London, is to be closed at the end of this month, after all 30 employees were either made redundant or have subsequently taken the redundancy package.

Posted on April 7, 2010 | Filed Under Tech

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