WebProNews

In discussions concerning social networks, AOL's name doesn't come up too often.  That's liable to change, though, as the corporation has acquired Bebo.

 Randy Falco - AOL CEO

Bebo doesn't operate on the same level as MySpace or Facebook, but the network does have about 40 million members worldwide.  Also, it's managed to claim the top spots in both Ireland and New Zealand.

These accomplishments - along with a few other details - made Bebo worth $850 million (cash) in AOL's eyes.  "Bebo is the perfect complement to AOL's personal communications network and puts us in a leading position in social media," stated Randy Falco, AOL's chairman and CEO.

He later added, "This positions us to offer advertisers even greater reach and marketers significant insights into the desires and needs of consumers."

Some music-loving types can be considered onboard thanks to Bebo's musician profiles and an iTunes connection.  The social network plays home to the show KateModern, and has accommodated OpenSocial and Facebook APIs, as well.

In short, Bebo has a lot of promise.  What AOL can do with it should be interesting to see.