So, the social network media madness continues... AOL put out the news this morning that it is acquiring social network Bebo for $850 million. According to a company spokeshack... "The Bebo acquisition puts us squarely in a leading position in social media at a time when it's growing at a fantastic rate, it will help power our strategic priorities across the board. And, just as important, by acquiring Bebo we can reclaim our heritage as a leader and innovator in the online community space." Wow... big claims, but a long way to go when you consider that Bebo has a worldwide membership of 40 million, but is relatively small in the U.S. According to comScore, it had 4.8 million unique visitors in February, which puts it at a fraction of market leaders Facebook, with 32.4 million uniques, and MySpace, with 68 million. Most of Bebo's membership is in Europe and within that, it is concentrated in the U.K., where it is the 13th-largest site with 11.4 million unique visitors. I think in many of these acquisitions the train has already left the station. And the more ads you put up, the more you drive away the early adopters. But still, I'm not coughing up $850 million!
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The "Wizened of Oz" wants to sell you a social network!
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