PMI Property is proud to announce that Bebo.com, the social networking website, signed a 2,000 square foot lease to relocate it’s headquarters to the creative office building at 10951 Pico Boulevard in West Los Angeles, California.

Bebo was catapulted onto the social networking scene and embraced by users in 2005.  It can be considered one of the first examples of creating a successful social networking site.  Unfortunately, Bebo was quickly overshadowed by MySpace.  Then Facebook launched, and the social networking revolution we all know today exploded.  AOL purchased Bebo in 2008 for $850 million and sold it to the current owners for under $10 million in 2010.  The original founder Michael Birch netted $300 million on the deal after investing $8,000 to start Bebo.  The current owners operate Bebo as an international social meeting website, and it boasts over 400,000 unique visitors a month in the United States alone.  Bebo still has to compete with the giant of the social networking game: Facebook, with their 140 million unique monthly visitors.  In contrast, Friendster is down to 77,000 users a month.

But Bebo survived, and has fared well in comparison to other sites. They feature personal profile pages for users where they can post blogs, photos, music and videos, as well as online gaming.  Be sure to check out our new tenant, Bebo to see what they have to offer!

You can read more about Bebo.com here.