bebo gets ready to be bought?
By Andrew Redfern @ 20th February 2008 5:16 pm
The Times, London : Social networking site bebo has made contact with investment bank Allen & Co and immediately sparked speculation that there’ll soon be a buyout.
According to The Times “The investment bank has been engaged to ensure that Bebo is properly advised should a substantial offer, or a meaningful partnership opportunity, emerge for a business that is largely owned by its founders Michael and Xochi Birch.
Viacom, the owner of MTV, Google and CBS, the American television network that also owns Last.FM, have been touted as potential buyers.”
Bebo has a large market share in the UK but a fairly low share in the US and it is thought that a deal with an american based partner my help them compete.
Other Related Stories That May Be Of Interest:
- Sofia’s diary ready for a second series
- Bebo expands out into France, Italy, Germany, Spain and The Netherlands.
- Social Network Bebo Launches “Bebo Originals”
- Last.fm partners with Bebo to power new online drama
- bebo team up with UCD to give their users a showcase
- AOL to acquire Bebo
- Yahoo! Answers adds its social applications into Bebo
- Bebo & Intercasting Corp team up to give users mobile access via ANTHEM.
- Google’s TV ads ready to go
- Bebo gives sneek peek at Sofia’s Diary
