iEntry 10th Anniversary RSS Newsletter Advertising
Visit Twellow.com
Text: Decrease Font Size Increase Font Size | Print Print Article | Share: Delicious Digg StumbleUpon Post to Twitter Post to Facebook
CommentFriday, December 21, 2007

Social Network Bebo Hires A Bank

Company sale, financing round, new checking account all feasible

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.

About the author:
Doug is a staff writer for WebProNews. Visit WebProNews for the latest eBusiness news.

Publish A Comment

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
8 + 3 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.
SEARCH
Popular WPN Business Resources












Subscribe to WebProNews


Send me relevant info