www.technologynewsdaily.com Linda Perrin
AOL has entered into an agreement with Bebo (http://www.bebo.com) to purchase the company from Bebo. The acquisition will give AOL a leading position in the social media with a networking industry capability of 80 million unique users. Bebo is a global social media network that combines, community, self expression and entertainment to allow users to communicate content. Bebo is one of the leading social networks in the UK, and is ranked number one in Ireland and New Zealand, and number three in the U.S. This deals comes one week after AOL launched it’s Open Aim initiative. Open AIM 2.0 allows the developer industry greater flexibility in accessing the AIM Network for chat and communications, also it will allow more flexibility for integration into their sites and applications. It is good that Apple has announced a download of the AIM application for the iPhone. The terms of the agreement state the purchase price at $850 million — cash. The current president will remain until further notice.
This is significant because this is just another example to me of businesses becoming more powerful in one specific area which might eventually allow them to monopolize.
