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.
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