The Internet company is reportedly seeking to part with its social networking site almost two years following its purchase.
San Francisco (WiredPRNews.com) – AOL Inc. is reportedly seeking to part with its social networking site Bebo. As reported by the Associated Press (AP), the Internet company plans to sell or shut down the site almost two years after making an $850 million purchase of it.
As noted in the report, data from comScore Inc. states the number of Bebo users in the U.S. in February was 5.1 million, which is significantly lower than rival sites such as Facebook, which reportedly has 210 million.
Clayton Moran, an analyst at The Benchmark Co., is quoted by the AP as stating of AOL’s decision to purchase the site, “It made a lot of industry watchers scratch their heads… At this point they probably would admit they overpaid for it and now they’re just cleaning it up.”
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