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Digital
Bebo became loss making in 2009
By CMU Editorial | Published on Wednesday 21 April 2010
Figures obtained via Companies House by The Guardian show that social networking whatnot Bebo has seen its financial performance plummet in the last two years.
In the financial year that ended May 2009 the AOL-owned venture made an overall loss of £1.1 million, compared to the £2.6 million profit it made the previous year. Presumably things haven’t picked up since, given AOL have announced they will try to sell the social network this year and, if they can’t, will shut it down.
Bebo, like MySpace, has struggled as a result of the unstoppable rise of Facebook. AOL paid $850 million for the social network in 2008. Bad move, in retrospect. Still, I could have told them that back then. If only people would listen.
