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bebo gets ready to be bought?

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 logo

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.

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