A consortium led by Criterion, the US merchant bank that owns Bebo, is buying SeeSaw, the online video-on-demand service that evolved from Project Kangaroo.

Bebo, once the UK's most popular social networking site, is relaunching with a new design and extra features that it hopes will reverse the decline in user numbers.

A teacher was banned from the classroom for one year today for inappropriate contact with teenage schoolgirls on the internet.

A paedophile postman who used Facebook and Bebo accounts to groom hundreds of children for sex was jailed for eight-and-a-half years yesterday.

Parents were warned tonight that their children are not safe from paedophiles even in their own bedrooms as one of Britain's worst ever internet child sex abusers was jailed.

US Outlook: Bebo has a secret weapon in its effort to win teenagers back to the social networking site: Maxx Levin, 17-year-old brother of Bebo's new owner, the California entrepreneur Adam Levin. As you read this, Maxx is travelling the Far East wearing a Bebo cap and under instructions to tell everyone he meets to sign up.

The ubiquitous social networking website Facebook achieved revenues of $900m (£608m) in 2009, it was reported yesterday.

AOL will sell its Bebo social network site to private investment firm Criterion Capital Partners for an undisclosed sum, as it tries to restructure its business and deal with declining revenue.

AOL has offloaded Bebo, the social networking site that once threatened the dominance of Facebook in the UK, for a tiny fraction of the $850m (£575m) it paid for the company two years ago.

Outlook So bye-bye Bebo. If ever you needed confirmation that AOL has the reverse of the Midas touch, it's this deal. The former social networking phenomena that fancied itself as a rival to Facebook when the men with the minus touch came a calling with $850m less than two years ago, has been offloaded for a couple of quid, a packet of chewing gum and some football trading cards.

A postman admitted grooming hundreds of children for sex over a five-year period, using social networking sites to prey on his victims.

A postman admitted today that he groomed hundreds of children for sex over a five-year period, using social networking sites to court his victims.

Detectives investigating the murder of a teenager whose badly burned body was found in a field said today they hoped to set up a Bebo site to persuade young people to contact them with information.