AOL Completes $850M Bebo Buy
AOL announced today that it has completes its acquisition of social networking site Bebo. The deal, which was originally announced in March, was worth $850M in cash. AOL said that Bebo will become part of a newly created People Networks business unit, which will be headed by Bebo CEO Joanna Shields. The new unit will also include AIM, ICQ, and recent acquisition Goowy Media and social Q&A firm Yedda. AOL said its first initiative with the firm will be to integrate AOL's IM, chat, and mail functionality into EMO, and to merge AIM and Bebo profiles.
posted on Monday, May 19, 2008
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