Bebo up for grabs… anyone want to buy it? Thought not.

It has been reported in the media that AOL will soon choose to either sell or close Bebo.com.  They forked out a staggering $850 million for the site just over two years ago, however AOL have quickly realised further investment just isn’t worth it!

The company released this statement: 

“Bebo, unfortunately, is a business that has been declining and, as a result, would require significant investment in order to compete in the competitive social networking space. AOL is not in a position at this time to further fund and support Bebo in pursuing a turnaround in social networking”

With companies like Facebook, Twitter (and to an extent – MySpace) already at the top of the social networking chart, AOL hoped that the acquisition of Bebo would put them head to head, however the reality is that the site has taking a severe battering in terms of the amount of people using it, compared to other social networking sites.  In other words – Bebo has fallen flat on its face!

Internet traffic sites suggest that visitor figures for Bebo don’t even come close to Facebook, with reports showing that traffic to Bebo is almost half what it was 12 months ago.

Could this happen to the likes of Twitter and Facebook?  What do the next 12-24 months hold for social networking sites? 

Let us know via the comments!

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