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Mashable says: Originally acquired by AOL for $850 million back in 2008, Bebo has clearly been a colossal flop for AOL, and as the company refocuses on content, makes little sense strategically. Along those same lines, AOL unloaded ICQ to DST a little over a month ago. The buyer of Bebo is said to be Criterion Capital Partners, a hedge fund.

Wouldn’t you think that a dating site would have picked up Bebo? Some people say that $10 million was too much to pay, thats around $2 per active user as of May. Let’s see if the buyer can do with the property, maybe this hedge fund understands how to monetize a social network. Or not. Personally, I think Bebo is cursed.