An interesting read, to be sure. I wonder if it will survive.
The social network BeBo can’t stand the heat
It looks like Bebo shut down or close as it looses the fight against Facebook and Twitter.
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After acquiring Bebo for $850 million in 2007, AOL announced today that it plans to shut down or sell the ailing social network by the end of next month, in order to focus on its premium content and advertiser offerings. In a statement sent to employees today, the company said it is “evaluating strategic alternatives” for the property as a result of what it describes as “heavy competition” from other social networking players – such as Facebook and Twitter. “Social networking is a space…where scale defines success. Bebo, unfortunately, is a business that has been declining and, as a result, would require significant investment in order to compete in the competitive social networking space. AOL is not in a position at this time to further fund and support Bebo in pursuing a turnaround in social networking,” the statement read.
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