In June 2012, AOL sold the Bebo social network to Criterion Capital Partners. About six months later, Entrepreneur Richard Hecker, TV executive Michael Jackson, Ron Conway’s SV Angel Investmets, and Michael and Xochi Birch of MXB Holdings (also Bebo co-founders),…
Anyone who’s shocked that AOL is giving up on Bebo will probably feel a lot more understanding after viewing new stats from Hitwise. Indeed, the real question a graph seems to raise is not whether AOL’s right to back away, but whether any potential buyers will surface.
View the carnage for yourself below. As you can see, Bebo’s had rather few "up" weeks in the UK since June of 2007, even though Ireland was traditionally one of the markets in which it was most successful.
Less than a week ago, the former president of Bebo joined Facebook, and now, AOL’s admitted that the social network it bought for $850 million has been beaten by Mark Zuckerberg’s leviathan. AOL intends to either sell or shut down Bebo in the near future.