“Bebo is the perfect complement to AOL’s personal communications network and puts us in a leading position in social media”

AOL, the Internet arm of Time Warner Inc., said Thursday it will pay $850 million in cash to acquire social media network Bebo, which has total global membership of more than 40 million.

Bebo is one of the largest social networks in Britain, and is ranked number one in Ireland and New Zealand and number three in the U.S, according to AOL. Bebo has about 100 employees operating in offices in the U.K., San Francisco and Austin, Texas.

As social networks such as Bebo have grown in popularity, so has their value to media companies as potential goldmines for online advertising dollars. News Corp., which also owns the Fox television and movie studios in addition to its newspaper and Internet holdings, bought MySpace for $580 million in 2005, but has estimated the network is now worth more than $15 billion. Read more

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Tags: Internet-Advertising, Advertising, Afilliate-Programs, Affiliate-Marketing

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