Posts Tagged ‘AOL’

Is Bebo the Pascal Chimbonda of social networking?

Writing as a fan of the once-mighty Tottenham Hotspur, I am delighted to see that there seems to be an organisation with a more confused and misguided buying/selling policy. After acquiring Bebo for a hefty $840m last year, it would appear that AOL is ready to sell it already, according to the ever reliable TechCrunch.

If this is indeed true, does it mean that the bottom has fallen out of the social networking market already, or that AOL paid way over the odds for Bebo at the time? I’d say a little of both. AOL were probably swept along by Facebook-inspired desperation to get their hands on a social networking site and Bebo simply hasn’t delivered the ROI that AOL was expecting. It is still hugely popular with the kidz (so I am told) but advertisers just aren’t seeing the return, so in tough economic times, are looking elsewhere.

Its embarrassing being a Spurs fan right now, so can’t help but feel a cheeky lolz at this news :)