Confirmed: Criterion Capital Partners Acquires Bebo From AOL

The rumors are true: hedge fund Criterion Capital Partners is indeed the buyer of Bebo . As we reported yesterday, AOL is offloading the social networking service for less than $10 million (other media are reporting a purchase price of around $2.5 million ). To remind you: AOL paid $850 million for Bebo back in 2008. Ouch indeed. In a press release that just went out, Criterion acknowledges that it has acquired the Bebo business from AOL and that it will "assume the rights and complete operating control over the global social platform business".