Balderton Capital sells stake in Bebo to AOL

Balderton Capital has entered into an agreement to sell its 15.7% stake in global social media network Bebo to AOL. Balderton will realise approximately $140m from the sale. AOL is paying $850m in cash for Bebo.

Balderton provided $15m in a first round of funding in 2006. Its returns will be more than 9x the original investment.

San Francisco-based Bebo was founded in 2005 and employs around 100 staff. It has more than 40 million members worldwide, 11 million in the UK alone.

Bebo combines community, self-expression and entertainment and enables its users to consume, create, discover and share content.

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