Home › DMW Daily › July 23, 2009

Report: AOL May Be Considering Spin-Off of Bebo

Authored by Mark Hefflinger on July 23, 2009 - 9:26am.
New York - AOL may be looking to spin off its Bebo social network into an independent company, TechCrunch reported on Thursday.

The blog cited comments made at a conference Thursday morning by AOL CEO Tim Armstrong, who failed to mention Bebo as one of the company's core products going forward, then later answered a question about the social network's future by saying that it "may be better off under AOL Ventures."

"Translation -- AOL is looking to spin Bebo off into an independent company, and they'll retain an equity interest," TechCrunch wrote.

AOL, which paid $850 million in cash to acquire Bebo in early 2008, is currently in the process of spinning out from its own parent, Time Warner (NYSE: TWX).

 

Related Links:
http://snipurl.com/ntbnm (TechCrunch)

http://www.bebo.com  

Published in DMW Daily, July 23, 2009
tags: Deals | Social Networking | AOL | Bebo | Time Warner | Spin-Offs |



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