Straight from the horse’s mouth: AOL CEO Tim Armstrong just told the TechCrunch Disrupt audience what most industry watchers already knew: the company made a strategic mistake in acquiring social network Bebo, and it ended up being a “major distraction” for them.
Armstrong admitted that it would have been very hard to make Bebo work right out the gate no matter what, and that probably the deal shouldn’t have gone through in the first place, given technology and other issues.
About the only good thing that came out of it, Armstrong acknowledged, was Lifestream.
Michael Arrington asked Armstrong in an on-stage interview whether AOL is still in the process of shutting down or actively trying to sell Bebo, but the only response he got was that the company is still in the middle of the whole ordeal, with no further comment.
My educated guess is that we’ll find out what Bebo’s future will look like soon enough.