AOL gets Bebo for $850 million
Another social network has been purchased, during this round, Time Warner’s AOL unit has acquired Bebo for $850 million. The social networking category has been a continued area of interest, particularly among media and technology companies hoping to take advantage of one of the Internet’s most popular communication vehicles to boost advertising inventory. Some of the previous acquisition and investment activity in the space has included News Corp.’s acquisition of MySpace. in July 2005 for $580 million and Microsoft purchased a stake in Facebook in October of last year.