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| Version 1 | Version 2 |
|---|---|
| AOL acquires Bebo social network | AOL acquires Bebo social network |
| (about 1 hour later) | |
| Time Warner's AOL internet division is buying the social networking site Bebo for $850m (£417m) in cash. | Time Warner's AOL internet division is buying the social networking site Bebo for $850m (£417m) in cash. |
| Bebo is the third-biggest social networking site in the US, behind MySpace and Facebook. | Bebo is the third-biggest social networking site in the US, behind MySpace and Facebook. |
| AOL says that Bebo has more than 40 million members worldwide who view an average of 78 pages per day each. | AOL says that Bebo has more than 40 million members worldwide who view an average of 78 pages per day each. |
| The price-tag is tiny when compared with the valuations of similar websites. Microsoft bought 1.6% of Facebook last year for $240m. | The price-tag is tiny when compared with the valuations of similar websites. Microsoft bought 1.6% of Facebook last year for $240m. |
| Online advertising | |
| News Corp bought MySpace for $580m in 2005 but now estimates that it is worth more than $15bn. | News Corp bought MySpace for $580m in 2005 but now estimates that it is worth more than $15bn. |
| TOP NETWORKING SITES MySpaceFacebookFlickrHi5FriendsterPerfspotOrkutDadaBeboSkyrock Network Source: ComScore | |
| Social networking sites are seen as a valuable location for online advertising, because members post information about themselves and can then be targeted with products and services likely to appeal to them. | Social networking sites are seen as a valuable location for online advertising, because members post information about themselves and can then be targeted with products and services likely to appeal to them. |
| The transaction comes at a time when Time Warner is considering splitting its business to part company with its AOL unit. | The transaction comes at a time when Time Warner is considering splitting its business to part company with its AOL unit. |
| Bebo was the world's ninth most popular social networking site in January, according to the internet statistics provider ComScore, which also ranked it as the second most visited in the UK. | |
| It was founded in California by Michael Birch, a British entrepreneur, who still owns a big stake in the business and so will make a great deal from the sale. |