AOL Snares Bebo for $850M

"AOL plans to fortify Bebo, the No. 3 online social network in the U.S. market, by integrating its industry-leading instant-messaging services AIM and ICQ, AOL President Randy Falco said in a conference call Thursday morning."

http://www.redherring.com/Home/23931

" AOL, which rose to prominence as an Internet portal, has embarked on a "Platform A" strategy to build an advertising network that offers an alternative to Google and Microsoft."

"Bebo's sole institutional backer, Benchmark Capital affiliate Balderton Capital, stands to reap $140 million, more than nine times its original investment, for its 15.7 percent stake. "

Bebo Head Brings Video Expertise to AOL

"With Time Warner’s expertise and power, Bebo has a chance to take the social-network-as-the-new-TV-network phenomenon to new heights.?
http://newteevee.com/2008/03/13/bebo-head-brings-video-expertise-to-aol/