Bebo May Be On Its Way Out

April 7th, 2010 at 12:00 am

Bebo Logo

Another social network site may be on the verge of closing shop. Bebo, a social networking site that is primarily popular in the United Kingdom may be at risk of either being sold or permanently closed. Its owner, AOL have confirmed that it may be selling the social networking site if there are any interested buyers for it or even consider closing it for good.

According to AOL, keeping the social networking site going takes in additional investment funding that it may not be able to continue in the long term. Another reason is that the competition among today’s social networking sites have become quite heavy that it has become difficult for Bebo to extend its popularity not only in the UK but also to other countries like the US. AOL has seen the business as in decline which can only be improved by significant investment that the company may not be able to provide.

AOL still has time to weigh out its options on whether to sell the business which it has acquired for US$850 million in March 2008. Sadly the options do not include keeping the business working. It may be up to interested buyers who may be able to do that. If the option does not present itself, the parent company may choose to close it down for good by the end of May.