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09:54 9th April 2010
AOL is considering selling Bebo, its popular social network website, amid heavy competition with more established names such as Facebook and Twitter, according to media reports.
The news came to light after an email sent to Bebo staff was seen by journalists.
Jon Brod, chief of acquisitions for AOL, which bought Bebo in 2008 for some £450 million, is rumoured to have written the email which attributes the closure as coming from an apparent shortage of funds or commercial appeal for the website.
He allegedly adding that the service would need to find "significant investment" in order to be able to operate amid the increasingly competitive social networking market.
According to Tim Gibbon, co-founder and editor of the Social Media Portal, if the website does shuts its doors, the impact will not be too hard for its users since there is an abundance of mediums.
"There are many other communities and social networks that Bebo's audiences could migrate to, including Facebook, MySpace and many other niche sites," he said.
Written by Paul Davis
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