Why does AOL find it so hard to say goodbye?
It took nearly 10 years for the dial-up company to split with Time Warner following the failed merger, and now AOL executives appear to be showing remorse after jettisoning social networking site, Bebo.com.
Less than a year after Criterion Capital Partners bought Bebo for $10 million (a fraction of the $850 million AOL bought it for), AOL is taking the social network’s new owners to court for IT costs.
AOL, which sold Bebo to Criterion subsidiary, Buckaroo Acquisition, in June 2010, filed suit last week to recoup $150,000 — the cost of IT staff, server rentals and other incidentals that it allowed the company to use for several months after the sale.
AOL refused to comment on why execs were taking such a hard line on a relatively small outstanding debt just a mere 10 months after submitting the bill to Bebo.
Bebo’s owners, who...
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