Bebo sold for $1m

[Jamie101]

http://www.bbc.co.uk/news/technology-23142462

Some of you have probably heard of this, but thought it would be worth posting. Bebo was sold for $850m not so long ago, and now the founder just bought it back from AOL for $1m - think it was worth it?

With all those names and email addresses, surely it's worth something? Kind of hard to believe that one of the biggest sites around not so long ago (spent a good bit of time on it when I was younger too!) sold for just $1m; but that's the internet for you.

Surprised nobody on here bought it since it's PR6

 

[EdwinEdwin is verified member.]

There's probably some very complicated tax writeoff reason why AOL felt it was worth dumping that cheaply. (What I mean is that they already knew they were going to lose their shirt over their bad investment, so maybe their tax advisors helped them finesse the least worst situation they could from it)

 

[MurrayMurray is verified member.]

About as bad as myspace selling for $35 mil a few years ago.

How much will facebook be worth once everyone deserts it.

 

[Jamie101]

Probably is tax related actually. Would be interesting to find out if it is.

I definitely think Facebook is going downhill lately. More people seem to be joining Twitter recently. Hard to see Facebook dying overnight but that's what I thought about Bebo all those years ago.

 

[retired_member34]

There's probably some very complicated tax writeoff reason why AOL felt it was worth dumping that cheaply. (What I mean is that they already knew they were going to lose their shirt over their bad investment, so maybe their tax advisors helped them finesse the least worst situation they could from it)

AOL sold it years ago for $10m, then it went bust. The founder bought it for $1m from the receivers. Things that are losing money and have done over a long period can generally be bought for not a lot, after all you are simply buying a cost.