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AOL Gives Up On Bebo 
By: Bruce Houghton 2010-04-07 AOL says it will sell or shut down social networking site Bebo in 2010, just 2 years after buying it for $580 million. Bebo has lost 45% of its unique visitors in the last year as Facebook... ...Twitter and other platforms have gained popularity and AOL is not willing to spend additional funds into a possible turnaround. "It is clear that social networking is a space with heavy competition, and where scale defines success. 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," wrote AOL Ventures EVP Jon Brod in a memo obtained by paidContent. "AOL is not in a position at this time to further fund and support Bebo in pursuing a turnaround in social networking." Comments Tag: AOL, Bebo Add to  Del.icio.us |  Digg |  Reddit |  Furl Have a bookmark! -  About the Author: Bruce Houghton is a 25 year music industry veteran who owns booking agency Skyline Music and the tour marketing company Skyline Innovations. http://www.hypebot.com |
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