AOL Acquired Bebo And WHUMP! Its Profits Collapsed

Bebo buy

You knew it. We knew it. Everyone but Ron and Randy knew it was never a good idea for AOL to spend $850 million on Bebo.

(Now AOL knows it. They plan to sell or shut down the site in 2010.)

Case in point: In the year after AOL bought the social network, its UK sales office swung from $4 million annual profit to a $1.7 million loss.

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