AOL Is Ready To Throw In The Towel On Bebo
April 06, 2010 at 14:36 PM EDT
AOL has long regretted its $850 million purchase of social network Bebo, and ever since CEO Tim Armstrong came on board it's pretty much been left to die on the vine. AOL is preparing a filing in the UK to alert regulators there of its plans to either sell or shut down the site. While a sale seems like the logical way to go, Bebo is pretty much worthless now and for tax reason s it might make more sense to simply shut it down. In an email sent out to employees today, AOL explained: