From Todays News
AOL acquired Bebo, a social media network for $850 million cash. Bebo, the ninth popular social networking site in the world and ranked third in U.S, founded by Michael Birch of U.K in California. There were rumors that AOL was trying to buy Bebo, and was said that they were quoting one Billion dollar price. The deal was clinched as Bebo is growing leaps and bounds and U.S subscribers have increased considerably last year.
I found an interesting story on the AOL acquisition
