Is AOL going to shutter the social network Bebo?

Two years ago, AOL bought UK-based social network Bebo for $850 million. Now Bebo faces the ax. “The news emerged from a stark e-mail sent to the social network’s dwindling 40-strong band of employees by AOL’s acquisition head, Jon Brod, which makes clear that the company no longer has the cash to keep investing in Bebo to battle much larger rivals,” reports NetworkWorld . Bebo counted 40 million users when AOL acquired it; now the social network has 12 million users, according to NetworkWorl…