7 Apr 2010

Bebo site for sale

12:27 pm on 7 April 2010

Internet company AOL plans to sell Bebo just two years after buying the social networking site for $US850 million.

Bebo has been struggling against more popular rivals such as Facebook and AOL says it needs significant investment in order for it to become competitive.

In a statement, AOL says it is not in a position to provide such funding.

AOL split with Time Warner last year and is itself struggling against rival internet providers.

AOL says may sell Bebo if it can find an interested party, and it will complete its review of the site by the end of May.