Parent company AOL of social networking site Bebo, could be set to close down Bebo by the end of May. If you are Irish or English, you will most definitely have heard of Bebo. Even I had one, but I haven't logged into my account in lets say 3 years. Why would I, all my friends are on Facebook!
Jon Brod, the executive vice-president of AOL Venture, sent a memo to employees on Tuesday night, saying the company was preparing an annual filing in which it "will indicate that it is currently evaluating strategic alternatives, which could include a sale or shutdown of Bebo in 2010". A change in management at AOL last year, a lack of investment and the strength of Facebook have all contributed to Bebo's sharp decline.
"Bebo, unfortunately, is a business that has been declining and, as a result, would require significant investment in order to compete in the competitive social networking space," Mr Brod said. (excerpt from Business Week interview)
The site has been haemorrhaging users for more than a year. In December 2008, it had 10.5 million unique visitors in the UK, according to the web traffic analyst ComScore. That had fallen to 3.8 million two months ago. Worldwide, the site has shed 10 million unique users over the same period, falling to 12.7 million unique users in February.
Don't forget to save all of your old school pictures from the college days!! Do you still use Bebo?