Social Network Bebo Hires A Bank

Company sale, financing round, new checking account all feasible

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There might be less of it these days, but when banks are around, money’s usually close at hand.  So, although the way in which it intends to get cash remains unknown, the fact that Bebo has hired a bank is a good sign the social network wants some.

In the United Kingdom, Bebo has strong ties to Yahoo.  In the United States, Bebo recently sided with Facebook.  It is, in short, both well-positioned and popular.  Now we just have to see what Bebo plans to do with itself.

Eric Eldon broke the story of Bebo’s involvement with a bank, and he heard that the social network was pursuing a sale.  The bank’s involvement has been confirmed; the intended sale has not.  Another option, then, is a round of funding.

Given how Facebook’s last adventure in that field went ($240 million from Microsoft and another $60 million from a Chinese businessman), well . . . it’s tough to make a call.  $300 million is fine, of course, but it’s necessary to keep in mind that Facebook was trying to establish a value of $15 billion.

So stay tuned, and, assuming they don’t come in while we’re trying to open presents or eat, we’ll give updates as we get ’em.

Social Network Bebo Hires A Bank
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