AOL acquires Bebo for $850 million
In a surprising move, AOL has just purchased Bebo, the third-largest US social network, for $850 million. There were rumors that Yahoo and others were looking to purchase Bebo, so this move was a stunner to some.
The price seems to be a pretty good deal. Microsoft bought 1.6% of Facebook last year for $240 million, creating a valuation of $15 billion. MySpace also tends to be valued around $15 billion.
