Whisper it – A year later, AOL contemplates a Bebo sale
[UPDATES: As a result of this story, more sources are coming forward. One I trust says Bebo is being pitched at $200 million. Update 2: Sources inside AOL are denying that it is exploring a sale. Bebo also denies a sale. Update 3: We have been in contact with corp communications at AOL, they say on the record: “There is no truth to this rumor.” Four of our sources, including former and current Bebo insiders and a well-placed VC, say otherwise. Last December Gigam published “Is Time Warner Having Second Thoughts About Bebo?”. I’m not saying Bebo is formally on the block, but I am saying that a sale is something under consideration].
My sources paint a picture of a startup which cleverly went about wooing advertising agencies, their clients, and – in the end – a media company that was prepared to jump on the social networking bandwagon during late 2007. There is absolutely no suggestion that anyone was dishonest or misrepresented the situation. But a year on it’s clear that AOL itself projected more growth onto Bebo that the network could deliver.
Head over to TechCrunch.com for the rest of this piece…