Time Warner's AOL internet division is buying the social networking site Bebo for $850m (£417m) in cash. Bebo is the third-biggest social networking site in the US, behind MySpace and Facebook. The price-tag is tiny when compared with the valuations of similar websites. Microsoft bought 1.6% of Facebook last year for $240m. (BBC News, PR, Financial Times)
skip to main |
skip to sidebar
