AOL’s comeback continues by buying social network Bebo

AOL’s comeback continues by buying social network Bebo

AOL is continuing its buying spree by acquiring Bebo. Reuters reports that Time Warner’s Internet division bought the social network for 850 million US dollars, in cash.

AOL CorporateBebo has 40 million users and may call itself no.1 in the UK, Ireland and New Zealand. In the US is has a respectable third place behind MySpace and Facebook.

“Bebo’s dynamic management team recognizes that the Internet is less about destination and more about connecting people, culture and lifestyles,” AOL President Ron Grant said in a statement. I’ll translate it for you: Now we can target the adds of recently bought online affiliate marketing network and the widgets of Goowy Media even better! Moreover, we’re catching up with Microsoft again!

One thing is for sure though, thanks to mother company Time Warner, AOL is making a remarkable comeback as an Internet giant.

[WebTipr: David Petherick, United Kingdom]

Read next: Japanese magazine filled with only QR codes

Shh. Here's some distraction