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[ 10 Jul 2010 | Comments Off ]
Bebo Must Go Says AOL

The social media world has been growing at a blistering pace so it comes as no shock to analysts that the Time Warner Company owned America Online would want to get involved in the fray – and they did. To the tune of $850 million, AOL bought the social networking site Bebo only two years ago, but has found competition within the social networking sector of the online market to be especially fierce. To this end, the company has decided that the investment was in poor judgement and is seeking to either rid itself of Bebo or perhaps sell it if possible. In the face of competitors like MySpace and Facebook, Bebo has simply not been able to compete and its business model has actually lead to a decline in visitors. In a sector of the web industry where scale is of essence, Bebo weighs in with just under 13 million users compared with Facebook’s nearly 463 million users. While Facebook grew by a full 68 per cent in February 2010 alone, Bebo sank to sixth place on the list of top social networking sites and shrank by 45 per cent.

With …