Bebo. Worth $850M two years ago. Now worth nothing.

Leo

Well-known member
saw that in the news today, wow. it's crazy how supposedly smart businesspeople can be so wrong, i guess that comes with the territory when the world moves so quickly and no one is really quite sure what the future holds. remember friendster? that being said, i still think they were suckers to pay $850 million for something with theoretical potential down the road.

it would be fun to get back issues of wired, business week, fortune, etc. from 3-5 years ago and see how many of the companies they drooled over in hype articles actually still exist, or reached anywhere near the potential they claimed. probably goes both ways too, some who did beat the odds.
 

grizzleb

Well-known member
It's kind of crazy seeing the figures for this kind of thing and thinking '850 mil? - really?'. But then you just assume that they must know something you don't. Or that that amount of money isn't really as large as it sounds in the scales that they work on. But anyone who's ever seen bebo could surely guess it was never worth that much. It really was a poor, poor site.
 

mms

sometimes
big business likes to waste big money as it makes them look powerful in my opinion, then they can moan about the decline of whatever it is when they don't make anything like the stupid money they paid for it, when actually it's their fault and they caused the fucking bubble.
 

Leo

Well-known member
what i find interesting is that when these big business fatcats lose big money, they don't really seem to lose. blackstone group *lost* billions when they defaulted on the loans from their purchase of the massive sty town apartment complex in nyc, but basically wrote it off and moved on to the next deal. donald trump has had projects in default and bankruptcy hearings, but he still lives the high life and continues to make huge deals. if you or i default on a mortgage, we get kicked to the curb. when they do it, it just seems to be a temporary blip.
 

Matthew

FKA Woebot
Fuck. I knew I should have married Michael Birch.

He never asked, but I still should've.
i met this chap a few years back. they bought back bebo for a few pence.

it is a cautionary tale for the worth of virtual objects definitely.
 

Leo

Well-known member
what i find interesting is that when these big business fatcats lose big money, they don't really seem to lose. blackstone group *lost* billions when they defaulted on the loans from their purchase of the massive sty town apartment complex in nyc, but basically wrote it off and moved on to the next deal. donald trump has had projects in default and bankruptcy hearings, but he still lives the high life and continues to make huge deals. if you or i default on a mortgage, we get kicked to the curb. when they do it, it just seems to be a temporary blip.

from 2010, little did I know.
 

boxedjoy

Well-known member
I lost so many pictures of good times with my friends when Bebo shut down.

Also, the time me and my pal were chatting up these two guys, and my pal asked one if he was on Bebo and his pal replied "he's no got Bebo but he's got a big boaby", will never not be funny
 
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