Bebo on Board: AOL Pays Big

The once-great Internet company needs to reestablish itself on the cutting edge. The teen-heavy social networking site should help

Anything you can do, I can do better. That's the message AOL sent to its competitors on Mar. 13 after it forked over $850 million for California online social network Bebo, the third-largest such site in the U.S. behind Facebook and MySpace.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.