The Telegraph says tonight that Yahoo is working to buy U.K.-based social network Bebo for $1-billion.
Bebo has around 25m users worldwide, compared with MySpace’s 100m or so
registered users. Birch is rumoured to have turned down an offer from
BT worth about £300m last summer. Viacom, the US media giant which was
outbid for MySpace, is also believed to have made an offer last year.
Bebo is backed by Benchmark Capital, the private equity firm.
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