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Digital
Bebo could close this year
By CMU Editorial | Published on Wednesday 7 April 2010
Bebo could be gone by the end of the year following the news that owners AOL want shot of the social media service, and will shut it down if they can’t sell it.
AOL acquired the MySpace rival, always seen as the social network for younger teenagers in the UK, two years ago for £550 million. But, like Rupert Murdoch’s News Corp, they have seen their expensive social media buy haemorrhage users to the independent market-leading social network Facebook. The US-based web firm told staff it was ready to cut its losses on Bebo yesterday. It remains to be seen if a buyer can be found.
If AOL do shut down Bebo, it can only add to speculation News Corp will eventually do the same to MySpace. End of an era, it seems.
