bebo

AOL CEO Tim Armstrong may finally have made good on his promise to figure out what to do with Bebo, the company's pricey digital albatross, by the end of the spring.

Mashable reported on Wednesday morning that Bebo had been sold; The Wall Street Journal followed up later in the day by saying that the deal is "close" but not complete and that the buyer is Criterion Capital Partners, a hedge fund based in Studio City, Calif. An AOL representative did not respond to a request for comment; a price isn't yet clear, but the Journal … Read more

NEW YORK--AOL CEO Tim Armstrong wasn't yet at the company when it paid $850 million for social network Bebo two years ago, a purchase that's now considered to be one of the biggest tech industry M&A blunders of the past decade. On Tuesday, onstage at the TechCrunch Disrupt conference, Armstrong said, "I don't know whether or not I would have bought Bebo. Looking backward, the answer's no, but in that time period with what was going on, maybe."

Indeed, at the time, would-be Facebook rival Bebo was extremely popular with teenagers in … Read more

AOL confirmed Tuesday that social-networking site Bebo will either be sold or shuttered, a victim of a highly competitive landscape and a parent company that doesn't want to invest to compete. The company will determine its fate by the end of May.

AOL, then part of Time Warner, bought Bebo for $850 million in March 2008 but struggled to build a name for itself outside of the U.K., where it's one of the most popular social-networking sites. In the U.S., it never really gained any traction. In a memo to employees, the company said:

"Bebo, … Read more

Facebook is beefing up its European sales team with a big name in social networking circles: it is adding former Bebo CEO Joanna Shields, who will runs sales and business development in Europe, the Middle East, and Africa.

It's familiar territory for her in more than one way, since she once helped Google manage the same geography.

Shields has had a busy couple of years: Two years ago, she arranged the sale Bebo to AOL for $850 million. A year after that, she took off and ended up in a content start-up backed by Elisabeth Murdoch's Shine Group. … Read more

NEW YORK--What's it like to watch a dot-com mogul spend $1 million? Well, it's sort of nice when it's going to a good cause.

On Monday night, at the annual benefit gala for the nonprofit Charity Water, Bebo founder Michael Birch, one of the event's co-hosts along with the likes of Twitter co-founder Jack Dorsey and entrepreneur Sean Parker, made a surprise announcement. Shortly before the event's live auction to solicit donations for new wells, Birch declared that he would personally match all donations up to $1 million.

Charity Water, a favorite cause of the dot-com set, … Read more

AOL has promoted Stephane Panier to the role of president at social network Bebo, which it acquired last year for $850 million.

Panier, who joined AOL in January after six years at Google, had previously been serving as chief operating officer of Bebo.

Joanna Shields, who was CEO of Bebo when it was acquired, left AOL in May. Before she left, Shields was head of "People Networks," a new AOL division devoted to social networks. Last week, AOL CEO Tim Armstrong announced that People Networks would be nixed in a restructuring.

Bebo has been placed in a new division called AOL Ventures, … Read more

The Streamy awards made me think of how Hollywood and the video bloggers are starting to come together. It made Natali think about urination. So, maybe they need to rethink branding. We also tell you how violent video games will make you see better. For real.

Happy fourth birthday! I can’t believe Buzz Out Loud has been around for four years. Here’s hoping for four more! –Joseph in Ohio http://buzzoutloud.wikia.com/wiki/Episode_1

Streamy Awards dominated by Felica Day http://newteevee.com/2009/03/29/joss-whedon-felicia-day-and-a-pile-of-streamys/

Google gives … Read more

Birmingham City University, a college in the U.K., will start offering a degree in social media, the Telegraph is reporting. According to the report, the course will delve into "what people can do on Facebook and Twitter." The course will also help students learn more about blogs, podcasts, and other social activities. Upon successful completion of the course, students will earn a master's degree in social media.

Venture capitalist firm Charles River Ventures announced Monday that its partners have raised $320 million for its 14th fund, Charles River Partnership XIV. The company will use that funding … Read more