AOL denies reports of Bebo sale as valuation plummets
LONDON - Social networking website Bebo has shrugged off rumours that parent company AOL is planning to sell the service, less than a year after it was acquired for $850m (£417m).
Bebo spokespersons have called the rumours "ridiculous" and "absolutely not true".
The reports have speculated that AOL is contemplating offloading the service for as little as $200m (£140m).
According to comScore, Bebo has 40m registered users, mainly in Europe and Australia. In comparison, Facebook as 140m users, while market leader MySpace has 250m.
The website also allows users to integrate instant messaging services, such as AOL's messenger, into their profiles. It is also the destination for popular online show 'Kate Modern'.
AOL said that it plans to keep developing Bebo and will roll out new integrated features this month and the next.
This week it was announced that Mark Charkin, Bebo's global vice-president, would be leaving the company without a job to go to.
Bebo's founder, Michael Birch also announced plans to invest in a new business professional social network to rival LinkedIn and Xing.
Latest jobs Jobs web feed
- Account Director- Exciting Online Content Marketing Company- Up to £70,000 plus OTE Cedar Scott Up to £70,000 basic (up to £90,000 OTE) plus share options, Central London
- Category Manager Pearson Competitive salary & performance related bonus & benefits, Central London
- Global Product Manager Evans Taylor c£50k - c£60k p.a. plus car, bonus and benefits, North East of England or Central London
- Retail Marketing Manager - Maternity Cover Tottenham Hotspur Football Club Up to £35,000 pro-rata, Tottenham and Enfield
- Brand Manager Radisson Blu Edwardian, London Competitive , South Kensington, London
- ACCOUNT DIRECTOR/SENIOR ACCOUNT DIRECTOR - BTL/SP/Brand Experience - London - £45 - £55k plus bonus Judi Patton £45K-55K plus bonus, London/Greater London
Integrated digital marketing offers huge opportunities to engage, servic...
Mobile marketing is coming of age, and the pace of change is now exponen...
With UK consumers spending an average of £1,083 a year online, int...
Conversational Mobile Marketing: Engage Customers and Empower Advocates (Expert Reports) External website
The pressure is on for marketers and mobile operators to embrace a strat...
As a nation, the UK is media and technology obsessed with over half of t...
All customers have the potential to become your brand advocates, driving...