Networking sites again gained headlines following the recent acquisition of Bebo by AOL Time Warner. I think aol actually bought Bebo for cheap in comparison to Facebook's very lofty investments and value and that for Youtube. Bebo seem to have a particlar niche and success with the younger market of 10-16 year olds. A more clearer advertising platform probably would have helped gain an even higher value.
I am a business development and sales manager for a media company and have worked in this sector for over five years.