I guess the news in my world today is that Bebo sold to AOL for $850 million.
Earlier a bunch of us were discussing the internet porn industry. A friend mentioned that when you see companies like AdultFriendFinder selling out to traditional media outlets like Penthouse, it means that the players in the industry don’t see much growth potential and are cashing out.
Right before the internet bubble burst, Palm spun off from 3COM for higher than the parent company’s market cap.
Enjoy the crash.