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AOL Buys Bebo For $850 Million

NEW YORK (Hypebot) — Music marketers take note: AOL may not grab the headlines as the most cutting edge destination, but they have huge daily page views and today they made a move that proves their determined not to fade away.

AOL just announced that is buying social networker Bebo for $850 million in cash. Together with its AIM and ICQ personal communications network, the acquisition will give AOL a strong position in the fast growing world of social media with a network of approximately 80 million unique users.

With a membership of 40 million worldwide, Bebo is one of the leading social networks in the UK, and is ranked number one in Ireland and New Zealand, and number three in the U.S. Its users average 78 pages per usage day.
The deal comes just one week after AOL’s launch of Open AIM 2.0, an initiative that allows the developer community greater access the AIM network and integration of AIM into its sites and applications.