Time Warner to buy Bebo

Wow. Just when you think Web 1.0 doesn't get Web 2.0, AOL goes and buys Bebo. If you haven't heard of Bebo, it's not surprising. While it ranks third (after Facebook and MySpace) in the U.S., it's popular mostly with the younger set. But it's the number one socnet site in Britain, Ireland and New Zealand with about 40 million users. The price tag? $850 billion, according to Reuters. Now let's just hope AOL doesn't ruin it.