AOL Bets on Bebo for Turnaround
ADOTAS – The beleaguered AOL is turning to its social network Bebo to help it give its business a much-needed boost, according to a report in The Wall Street Journal.
AOL bought Bebo in March for $850 million, which some on in the industry considered an extraordinarily high price for a vehicle that hasn’t exactly been churning out streams of advertising revenue. Time Warner (AOL’s parent company) even said as much, calling it the “riskiest” buy the company made in 2008.
Today, Bebo announced plans to pump up revenue by leveraging AOL’s IM users (roughly 124 million strong) to use Bebo’s Social Inbox – a content aggregator that provides users with access to email from Yahoo, Google, AOL and more; feeds from outside sites like Twitter and YouTube and a tool that recommends TV shows, online videos and music based on user data, the Journal reports.
Despite the company’s ambitious plans, skeptics aren’t convinced.
“Who has done a good job at monetizing any social-networking site yet?” Steve Kerho, vice president of analytics, media and marketing optimization at Organic, a digital-marketing firm owned by Omnicom Group, asked the Journal.
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