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Presentation was made for UNA MK 375

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  • 1. Bebo
    Social Networking Bust
  • 2. Founders
    Bebo was founded in 2005 by Michael and Xochi Birch at their home in San Francisco, CA.
  • 3. The Buzz About Bebo
    It was rumored that the acronym Bebostood for “Blog Early, Blog Often,” which was then denied by Mr. Birch.
  • 4. Bebo Platform
    The Bebo platform was designed to compete with Facebookand offer users the same type social networking experience.
  • 5. Unexpected Turn
    When the Birch’s launched Bebo, they found that the social networking platform typically appealed to middle school children in the UK.
  • 6. Reasons to $ell
    The Birch’s intended to sell Bebo due to the platforms instability, which would then prove to become a sinkhole for the future buyer.
  • 7. Payday
    In 2008 Michael and Xochi Birch sold Bebo to AOL for the small price of $850 million dollars.
  • 8. Popularity
    At this time, Bebo was the third largest social networking site behind Facebook and MySpace with over 23 million users.
  • 9.
  • 10. Upon selling Bebo to AOL, it was reported that the Birch’s took home a generous profit of $595 million dollars.
    This purchase by AOL would go on to be known as one of the worst decisions made in the dotcom era.
  • 11. Failed Funding
    This sale occurred during the midst of the financial crisis, which would prevent AOL from properly funding Bebo’s operations leading to its downturn.
    There simply were not enough advertising sales and funding to keep the social networking site up to speed with Facebook.
  • 12. Overshadowed
    Although Bebo and Facebook provide very similar features , Facebookhad already established itself as the dominant site and Bebo began to get little exposure.
  • 13. Similarities
    Facebook
    What’s on your mind?
    Comments
    Top Stories
    Share Videos
    Share Music
    Share Pictures
    Bebo
    Say it!
    Comments
    Top Stories
    Share Videos
    Share Music
    Share Pictures
  • 14. Similarities
    Facebook
    Personal Profile
    News Feed
    Messaging Inbox
    Chat
    Games
    Link account to Bebo
    Bebo
    Personal Profile
    News Feed
    Messaging Inbox
    Chat
    Games
    Link account to Facebook
  • 15. As you can see, Bebo and Facebook are essentially the same social networking sites which just happened to be marketed differently.
  • 16. Due to a better marketing strategy, Facebook members now span worldwide with over 200 million users.
    Bebo, on the other hand, still had some more selling to do due to a continuous lack of users.
  • 17. Massive Losses
    In June of 2010, AOL announced they would have to sell or shut down Bebo.
    The social networking site was then purchased by Criterion Capital Partners, a hedge fund firm.
  • 18. Remember how AOL reportedly paid $580 million for Bebo?
  • 19. They sold it to Criterion Capital Partners for around $10 million.
    That’s a minimal loss of $570 million for AOL!
  • 20. The massive financial losses incurred by AOL due to Bebo’s failure would cost then CEO Randy Falco his job.
  • 21. Reviving an Image
    Under the new leadership of Criterion, Bebo has received a much needed home page and profile page make-over.
    Bebo is also expected to release an updated cell phone app later in 2011 to re-tap the mobile market.
  • 22. Future
    The future of Bebo is still uncertain, but with new leadership in place and a new marketing strategy there is a chance the social networking site can find new life.
  • 23. Works Cited
    1.) http://en.wikipedia.org/wiki/Bebo
    2.) http://social-networking-websites-review.toptenreviews.com/1683-bebo-lg4-screenshot.html
    3.) http://fusible.com/2010/12/mult-millionaire-rick-schwartz-projects-40-of-his-hand-registered-2010-domains-will-rake-in-4-million-in-next-10-yrs/millions-of-dollars/
    4.) http://www.wizardofdraws.com/pages/laptopboy.html
    5.) http://www.visualphotos.com/image/1x8690646/frustrated_woman_shaking_computer_monitor
    6.) http://www.indianeye.org/2008/01/17/yin-yang-and-the-philosophy-of-the-sexes/
    7.) http://history.howstuffworks.com/american-history/civil-rights-movement6.htm
    8.) http://ia.wikipedia.org/wiki/File:Question_mark_3d.png
    9.) http://www.clipartpal.com/clipart/occupations/clerk_177148.html
    10.) http://mikesblazing60s.blinkweb.com/