It’s Official: AOL Sells Bebo to Criterion Capital Partners
Yesterday we broke the news that AOL has sold social network Bebo , later confirming from sources that the buyer is hedge fund Criterion Capital Partners. Now, AOL has officially announced the news. According to the announcement, “CCP will assume the rights and complete operating control over the global social platform business.” “The young, highly active user base, revenue history, presence in countries throughout the world and solid technical infrastructure make it an attractive media platform both as a standalone entity and in the context of our broader investment objectives,” said Adam Levin, managing partner at CCP.
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