AOL will be buying social Networking site Bebo for $850m cash.
Well done to all of those at Bebo, the social network that (more or less) quietly got on with building its 40 million members while the other social network shouted about what they were up to.
It’s interesting that the deal is all cash, with one interpretation of that being that Bebo and its backers wanted to cashout rather than receive stock that might decrease in value.