Monday, March 17

Bebo goes for a cool $850 million

AOL has acquired social networking site Bebo for $850 million in cash.
Investment bank Allen & Co. has been shopping Bebo for some time. A number of potential buyers passed on the company, including News Corp., Microsoft and Google, our sources say. Yahoo may have also taken a long look, but recent woes probably prohibit it from doing any large transactions.

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