Why did AOL buy Bebo for $850 million in cash?

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asked Jul 3, 2019 in Cell Tracking by Munro1998 (9,520 points)

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1 Answer

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answered Jul 4, 2019 by ItsBeckahm07 (12,700 points)

In 2008, social networking was growing at astronomical rates and AOL's management believed purchasing one of the leading social networking sites would help the company's turn-around. 

At the time of the acquisition, Bebo had 40 million members, making Bebo the third-largest network, behind MySpace and Facebook. MySpace had been purchased by News Corp and Facebook was not for sale, as a result, Bebo became a viable target. 

The valuation of Bebo and the price that AOL's management team paid ($850 Million) has always been questioned, even by Time Warner's CEO (Jeff Bewkes) which owned AOL at the time of the acquisition. http://aoltech.supportphone-number.com/

For more info, see the Washington Post's article about the acquisition -- http://aoltech.supportphone-number.com/


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