AOL completes $850m Bebo deal
- Published: 19 May 2008 09:34
- Author: Robin Parker
- More by this Author
- Last Updated: 20 May 2008 09:40
AOL is to integrate Bebo into its new People Networks division, which brings together AOL Instant Messenger, ICQ and other community platforms.
The $850m (£433m) acquisition of Bebo is formally completed today and sees the social network's chief executive Joanna Shields promote to executive vice president of AOL and president of People Networks.
AOL will promote Bebo shows KateModern, Sofia's Diary and The Gap Year and Bebo members will be able to use the same profile and registration details on all parts of People Networks.
"Bebo has succeeded by providing its users with the best platform for entertainment, self-expression and community," said Shields.
"People Networks expands this vision by extending our reach, bringing instant communication tools to our users and providing them with the ability to share their passions with people like them."
People Networks will integrate other recent AOL acquisitions, including widget technology company Goowy Media and social search question and answer service Yedda.
Prior to the acquisition, Shields was president of Bebo and has previously headed Google's European, Russian, Middle East & African operations.
