Bebo goes AOL – for $850 million

It’s the most popular social networking site in the UK and now its just landed Brit founder Michael Birch with a whole stack of cash.

Just three years after setting the site up, he’s sold out to AOL, netting the house of Connie a tasty 40 million monthly users around the globe, for a mere $850 million – or $21.25 a head. Bargain.

Fret not if you’re one of them, AOL’s not looking to change things, rather it sees it as the “perfect complement to AOL’s personal communications network”. Rather like a fine claret with a rare Chateaubriand. Mmm – meat.

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Contact: Bebo

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