Anyone interested more in the financial side of social networks, rather than simply adding tons of weird applications and spending hours turning down odd friend requests and notifications, may like to know that, according to “a high level source”, the social network Bebo has signed an acquisition deal thought to be worth $1bn.

Yes, that’s a whole lot of cash. Previosuly, Facebook had been “valued” at anywhere from $6bn to $15bn, though the rumoured Microsoft take-over never happened.