Bebo acquired for $1 Billion

Rumors circulated the blogosphere last week that Bebo, the Web's No. 3 social network with a 1.18 percent market share according to Hitwise, was in talks to be acquired for around $1 billion by a mystery buyer. Google was said to be the most likely candidate, although the rumor was never confirmed.

Now, Bebo has indeed been purchased for the rumored price of $1 billion--although the buyer remains a mystery. The report cites a "high level source" representing either Bebo or the company's investment bank, Allen & Co., who says the company signed a deal Monday to be acquired. The tip remains unconfirmed.

TechCrunch still believes that Google is the buyer, "given that Bebo fits well with Orkut." Bebo is the No. 2 social network in the UK and has a following in Europe and the U.S., while Orkut remains a dominant player in South America and parts of Asia.

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