AOL selling social networking site Bebo

Posted: June 20, 2010 in Tech

Criterion Capital Partners, LLC (CCP), a merchant banking and financial advisory firm based in the United States, announced that it has acquired the Bebo business, the youth-centric social media network, from AOL Inc. As part of the deal, CCP will assume the rights and complete operating control over the global social platform business.

Bebo launched in 2005 and was acquired by AOL in March 2008 for $850 million. It is a social media network that combines community, connections, self-expression and entertainment via a range of social tools, games and a growing mobile platform.

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