Time Warner buys Bebo for $850m

 

Ireland’s most popular social networking site, Bebo, is to be acquired by AOL, the internet division of Time Warner, for US$850m in cash.

The acquisition comes after 5 months of talks between the two companies. It also delivers a huge windfall – understood to be just over $700 million – to Bebo’s founders, British man Michael Birch, 37 and his Californian wife Xochi, who set the site up 3 years ago and have nurtured its growth.

Full report from SiliconRepublic.com

Advertisements

Tags: ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: