AOL Buys Bebo For $850 Million

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1. Yakov
   

   March 13th, 2008 at 6:06 am

   That’s quite a valuation, though less then it’s expected..

2. paul
   

   March 13th, 2008 at 6:07 am

   = $18.75 per user; makes facebook worth $1.2 billion on the same valuation….

3. Marie F
   

   March 13th, 2008 at 6:07 am

   great article, but for how much, there seems to be a 100 million going awol between the headline and the article.

4. AD
   

   March 13th, 2008 at 6:07 am

   Now that came as bolt from blue..btw the title reads $750 million and article $850 million

5. Johnyzar
   

   March 13th, 2008 at 6:08 am

   Will WishDone have the same valuation 2 years from now?or more…

6. Chris Cagle
   

   March 13th, 2008 at 6:08 am

   Wow. I would have never thought Bebo could have commanded that type of valuation… and certainly not from the likes of AOL.

7. derek
   

   March 13th, 2008 at 6:10 am

   Why does the title say $750 and the article say $850?

8. Wayne Sutton
   

   March 13th, 2008 at 6:10 am

   Now the question is how will the use it with their current projects? Will the lock access? Does Bebo lose it’s value now that it’s owned by AOL? What’s the next social network to get purchased?

9. paul
   

   March 13th, 2008 at 6:11 am

   figure is actually $850 million (source AOL press release)….that makes $21.25 per user and facebook at $1.4 billion

10. Arona
    

    March 13th, 2008 at 6:15 am

    wow….WTF!!

    I think this wasn’t on anyones immediate radar!!

    AOL are certainly buying a lot of companies recently.

    I think this acquisition is good for their UK and Irish user numbers, but again - its not a straight fit into the AOL model. I guess they are going to combine it with AIM to launch it in the US where it is pretty small I think.

    Puts pressure on Yahoo and MSN, lets face it 360 and Spaces are dead ducks as far as social networks go.

11. Arona
    

    March 13th, 2008 at 6:16 am

    oh..and by the way @5. The answer is no. )))

12. Kevin Allman
    

    March 13th, 2008 at 6:18 am

    expected a purchase but …. 850m in cash … wow.. power to aol

13. 113.com
    

    March 13th, 2008 at 6:20 am

    Good buy, congrats to AOL and, Bebo!

14. Cesar Cardoso
    

    March 13th, 2008 at 6:21 am

    BBC has corrected its story to reflect the AOL press-release (http://corp.aol.com/press_releases/2008/03/aol-acquire-global-social-media-network-bebo) deal price of USD 850M.

    Anyway, now people has some idea of the social network user’s value.

15. bob cobb
    

    March 13th, 2008 at 6:29 am

    I’ve only used bebo becuase I have an app on there, but I think it’s kinda crappy. It seems like the way myspace used to be. Lots of errors, shitty layout, etc.

16. Peter Sauer
    

    March 13th, 2008 at 6:29 am

    Seems like a pretty good deal for AOL seeing as though Microsoft paid $240 million for a 1.6% stake in FaceBook.

17. HKOL.com
    

    March 13th, 2008 at 6:31 am

    So when is AOL shopping in Asia?

18. Shakir Razak
    

    March 13th, 2008 at 6:34 am

    Hi Michael,

    This is completely MENTAL.

    AOL, a social network (as was) where people used to graze, that opened itself up to catch up with the open Internet in 90’s, is buying a closed platform environment that tries to keep its users in its sand-box -completely MentaL!!!

    More analytically, it looks like Aol is trying to catch a wave, with a younger hipper demographic, already established in western europe, with quick growth potential in america, etc.

    Also, Is Time-Warner fattening up Aol (ergo not caring as much about costs) to spin-off/in (ipo or partner)?

    If Aol/TW knew what synergy was, so much could be achieved (inc. with this acquisition) with the further development of the Internet, and aol/tw driving it, rather than what has been frittered away.

    Yours kindly,

    Shakir Razak

19. Louis
    

    March 13th, 2008 at 6:39 am

    Quite a valuation, given that the everything points to a major correction in company valuations a la ‘internet bubble of 2000′.

    This could turn out to be the broadcast.com purchase of the year.

20. TechcrunchBook
    

    March 13th, 2008 at 6:41 am

    definitely not a good price for all Facebook fanboys.

21. LimeAll.com
    

    March 13th, 2008 at 6:47 am

    Congratulations to Bebo team…quite a pull
    http://www.LimeAll.com

22. MikeT
    

    March 13th, 2008 at 7:22 am

    ok, I have a Facebook account that I’ve never used. But I’m sure it’s included in the total number of Facebook accounts, that they claim is higher than 60 mln. Is 60+ million erroneous? It is - because it includes dormant accounts. Plus, there are users who have more than one account…

    Maybe dividing the 850M by the number of uniques (22M) would be a more accurate estimation of $/unique user, which is almost $39?

23. Arona
    

    March 13th, 2008 at 7:24 am

    BTW - has anyone questioned the 40 million user base statement?

    40 million profiles or 40 million active users?

    I think Bebo has about 7 million active users - this puts the price per active user way way up…over 100 USD per user - and with a revenue of less than 20 cents per month per user (my guess by the way) and a life expectancy on the network of about 6 months to 1 year (max) then this is a del harking back to the bubble days.

24. Matt
    

    March 13th, 2008 at 7:36 am

    @#5 … no

25. Carter F Smith
    

    March 13th, 2008 at 7:45 am

    So this means that by default AOL is into Open Social, too . . . who’s next?

26. ebaaf
    

    March 13th, 2008 at 7:48 am

    What does this do for the valuation of the other 2nd-tier social networks, like hi5 et al (as seen previously on TC: http://www.techcrunch.com/2008.....and-imeem/)?

    Has anyone seen any good analysis elsewhere on the Internet? I’m rather interested.

    @9, @22: All users aren’t created equal, right? US college segment is perhaps more attractive than UK market user for user?

27. OpenSocialWatch
    

    March 13th, 2008 at 7:55 am

    >So this means that by default AOL is into Open Social, too . . . who’s next?

    Yahoo!

28. OpenSocialWatch
    

    March 13th, 2008 at 8:03 am

    Or, mightbe I’ve to correct myself that it’s Hi5, sooner than Yahoo!, per this mention

    That said, Hi5 has been involved with OpenSocial since pre-day1 of OpenSocial..

29. JP
    

    March 13th, 2008 at 8:04 am

    Do they realise how little 850m $ is worth in pounds…

30. Paul
    

    March 13th, 2008 at 8:14 am

    Yet another example of cynical execs overpaying for a set of misunderstood buzzwords and undeliverable, distant promises, all to keep them in their chairs for another few bonus periods.

31. doctork
    

    March 13th, 2008 at 8:17 am

    anyone have 1 millon for me?

32. Marzipan from Toledo
    

    March 13th, 2008 at 8:21 am

    ha…if they waited 6 months they could have saved a lot of money

33. Alex Hammer
    

    March 13th, 2008 at 8:21 am

    Congratulations on getting this one right, and early. TechCrunch tends to call deals/potential deals/rumored deals early (well placed sources?), so separating fact from spin, fiction and fluid and changing marketplaces no easy task by any means.

34. alan p
    

    March 13th, 2008 at 8:27 am

    The AOl-Bebo value transfer equation

    http://www.broadstuff.com/arch.....ation.html

35. Peter McDonald
    

    March 13th, 2008 at 8:40 am

    If they plan to marry Bebo and AIM, they’re going to have a hard time. AIM is not very popular at all in the UK, where as Bebo is hugely popular. You could argue that they could use it to either push Bebo to the Americans, or AIM to the UK. But neither is a great plan, far better would of been MS buying Bebo and using Windows Live Messenger in conjunction with it, oh well.

36. Brig
    

    March 13th, 2008 at 8:44 am

    wow — yeah, I thought there was a correction in the prices companies were going for and this confirms it —- that is quite a cheap price for Bebo, if they really have that many registered users.

37. spin it
    

    March 13th, 2008 at 8:50 am

    Told you so? Ya, you ’speculated’ that it was google… spin that erroneous prediction.

38. Michael Arrington
    

    March 13th, 2008 at 9:10 am

    spin it - i secretly knew it was AOL but had to protect a source. Yeah. that’s it.

39. Sarah Carr
    

    March 13th, 2008 at 9:21 am

    Another one bites the dust.

40. sd
    

    March 13th, 2008 at 9:33 am

    Michael,

    just curious, do you know why they do not publish daily active users? facebook uses this on apps, but not on themselves? doesn’t sound too fair.

41. Skip H.
    

    March 13th, 2008 at 9:37 am

    “AOL CEO Randy Falco: “Bebo is the perfect complement to AOL’s personal communications network and puts us in a leading position in social media. What drew us to Bebo was its substantial and fast-growing worldwide user-base, its vision of a truly social web, and the monetization opportunities that leverage Platform-A (AOL’s ad system) across our combined global audience. This positions us to offer advertisers even greater reach and marketers significant insights into the desires and needs of consumers”

    Wake up Randy and AOL, great move BUT have you forgotten you can own the audience, you can have advertisers, but if you don’t own the technology that allows you to customize the ads to the end users based on the behavioral data you have, then you have nothing, nada, zip! Have you forgotten about the patent infringement suit against you guys by Modavox for your acquisition of Tacoda for this exact reason?

    The irony of todays acquisition is that without further infringing on Modavox’s patented technology, they can’t effectively monetize Bebo’s audience or any audience for that matter.

    AOL’s platform A’s business model is now very clear. They have now paid a combined $1.125 BILLION for just two companies, one has the audience (Bebo) and one provides the behavioral targeting for that audience (Tacoda).

    With over a BILLION spent, they still are missing the most important piece to the puzzle. They don’t own the patented technology which allows for the customization of content based on behaviorally procurred data, Modavox owns it! Without it, they simply can’t effectively execute their now clear business strategy. Modavox and others know this, hence the patent infringement suit. It’s probably why Modavox engaged bankers recently because maybe someone was sniffing around, who knows. I think it’s only a matter of time before somebody figures it out.

    There is big risk here for AOL. If one of their competitiors acquires Modavox knowing that their patented IP is a key integral piece to AOL’s strategy, you can surely expect them to leverage it against them.

    Sometimes companies are acquired for not only what they can do for the acquirer but for what they can prevent a competitor from doing. I expect Google, Yahoo or someone else to soon make a play for Modavox seeking to throw a big wrench right into AOL’s Platform A strategy.

    Better wake up Randy…..

42. Jon Meyers
    

    March 13th, 2008 at 10:05 am

    One thing I’m surprised that appears to be missing is the question of how well AOL can integrate the Bebo acquisition. It seems that they have any number of missteps on acquisitions dating back to the mid-90’s. The AOL executive management knows how to get deals done, but what really is their track record on realizing substantial value from these deals?

43. dave mcclure
    

    March 13th, 2008 at 10:10 am

    congrats to Mike & Erick on the projected scoop / rumor / acquisition / prediction / whatEVr. whether kara agrees or not, i’m giving you guys at least 51% credit. (same for YouTube

    congrats to Michael & Xochi & Joanna.

    (Jim / Jessica: as noted previously, you’re picking up the tab next time

44. wow
    

    March 13th, 2008 at 10:11 am

    Mebo, AIM, its got a video search engine too. wow AOL!

45. dave mcclure
    

    March 13th, 2008 at 10:12 am

    btw, Hi5 is now the prettiest unwed girl on the dance floor… guessing someone will snap that up before end of the year.

46. Mike
    

    March 13th, 2008 at 10:14 am

    This is the patent that AOL is possibly infringing on.

    News for ‘MDVX’ - (Second Patent Affirms Modavox’s Leading-Edge Role in Web Processes Such as User-Based Customization of Online Content Patent No. 7,269,636 Ratifies Scope of Claims and Further Defines Modavox Breakthrough Inventions)

    PHOENIX, Sep 11, 2007 (BUSINESS WIRE) — Modavox, Inc. (OTCBB:MDVX), an
    Internet broadcasting pioneer in the production and distribution of online audio
    and video, announced that the U.S. Patent Office today issued U.S. Patent No.
    7,269,636. The patent refines the legal definition of Modavox inventions with
    claims that accurately reflect how the concepts taught by the foundational U.S.
    Patent No. 6,594,691 “Method and System for Adding Function to a Web Page” are
    implemented in state-of-the-art delivery infrastructure and delivery practices
    seen in the marketplace today.

    The new patent leads to a modified complaint filed today asserting the new
    patent in the infringement case against Tacoda, Inc., pending in the Southern
    District of New York (Case No. 07-CV-7088).

    Modavox CEO, David J. Ide stated, “We’ve achieved another key identified
    milestone in the establishment of validity in our patents and the importance of
    our proprietary technology in our industry. We are pleased with the issuance by
    the U.S.P.T.O. today of our new patent. Our work for our customers continues to
    fuel new innovations as we strive as an organization to exceed expectations.
    Each day, we press forward to capitalize on the opportunities that our
    technology and position in the market have created and our new patent is just
    one manifestation of that sizable effort.”

    “The new patent provides a clearer picture of how state-of-the-art
    implementations are executed such as the behavioral marketing implementation of
    Tacoda,” said Nathaniel Bradley, Chief Technology & Product officer for Modavox.
    “Products built upon this patented infrastructure are under constant development
    and deployment here, and are continually enriched with new innovations. For this
    reason, we are confident that this, given the required time, will yield even
    more patents and intellectual property for Modavox. It is important to note the
    significance of this latest issuance as it is the cornerstone of our patent
    enforcement strategy and the reason we’ve begun to take our first actions.”

    Andy Burgess, Modavox Intellectual Property Consultant, stated, “The 7,269,636
    patent delineates an unambiguous threshold for web technologies that allows
    Modavox to pursue current and future infringement studies unhindered. In
    addition to Tacoda, we believe additional operations in the behavioral marketing
    space are infringing and action is being taken through comprehensive
    infringement analysis and third party verification practices that will provide
    conclusive actionable data for us moving forward. The 7,269,636 patent also
    gives an unbiased view as to the ownership of the online vertical market
    currently occupied by Modavox.”

    Dr. Daniel F. Coughlin of Fox Rothschild LLP, who is acting as Modavox’s lead
    counsel in the company’s intellectual property enforcement and licensing
    program, stated, “We are all justifiably encouraged by the validation of
    Modavox’s core technology that this patent represents. It is clear that the U.S.
    Patent Office has recognized the unique importance of Modavox’s technology not
    only in the time frame of its original development, but also in the context of
    the emerging markets that these patents enable. Modavox’s expanding intellectual
    property places us in an ideal position to seek and gain the industry
    recognition that the company deserves. More specifically, we are today filing an
    Amended Complaint asserting the ‘636 patent in our case recently filed against
    Tacoda, Inc., pending in the Southern District of New York (Case No.
    07-CV-7088). As Tacoda and the rest of the industry will realize, it will not be
    possible to ignore Modavox’s position astride this technology.”

47. Simon Brocklehurst
    

    March 13th, 2008 at 10:23 am

    A great exit for the Bebo folks. And I (think I) get why AOL instant messaging might be potentially interesting. Not sure it tells us much about Facebook’s valuation though… they’re aiming a lot higher.

    For anyone that’s interested my analysis, “AOL Buys Bebo As Interest In Social Networking Declines”, is @

    http://www.psynixis.com/blog/2.....-declines/

48. Skip H.
    

    March 13th, 2008 at 10:53 am

    Mike,

    That’s it but they are also in the process of having another one issued shortly is what I hear. It’s not just one patent they have but a nice portfolio.

    I definately think they are the next small guy to be in play. On Friday they announced they have over 5 million current unique visitors and already over 2 million uniques on their patented add platform. Their internet radio assets would fit perfectly into AOL radio in my opinion. At the current valuation it has to be one of the more compelling value acquisitions in the entire space. The key to their value is what I said above. Still can’t believe Falco and AOL just haven’t scooped them up. Longer they wait, more likely someone else does and uses them against them.

    Thanks

49. Joe Charakupa
    

    March 13th, 2008 at 11:05 am

    Social networks declining? No chance.

50. arona
    

    March 13th, 2008 at 11:41 am

    not just AIM that they can integrate BTW - AOL also own ICQ - very big in eastern europe and germany.

51. Brett W.
    

    March 13th, 2008 at 12:22 pm

    Is AOL CEO Randy Falco on stilts in that picture, or are the Bebo folks “small people”? Either Randy should’ve played professional ball, or the Bebo execs should start their own circus act.

52. Wil Schroter
    

    March 13th, 2008 at 12:24 pm

    still can’t figure out how the eff Friendster hasn’t sold for at least a few hundred million.

53. Goran Web
    

    March 13th, 2008 at 1:20 pm

    Interesting buyout. Aol will be learning to understand a new type of target audience, the younger European demographic. Lets see what happens

54. Rhohon
    

    March 13th, 2008 at 2:08 pm

    The roach that just won’t die (AOL) has chosen to suck the life out of another victim. Like a lost Internet vampire it latched it teeth onto BEBO w/o understanding its victim. Once it has completely sucked dry BEBO’s “Social Network” lifeblood it’ll have to move to another victim - assuming it survives that long. Who cares?

    The better question is…who wants to be the next victim?

    I wish BEBO employees and users nothing but good luck.

    Don’t get me wrong I will miss the mirrors AOL made. I use them all over the house.

55. Jughead
    

    March 13th, 2008 at 2:54 pm

    The Platform Era of the internet is in full swing. AOL plugs in Goowy into Bebo and leverages Tacoda.

    Widgets man, who’da thunk?

56. Wei Hong
    

    March 13th, 2008 at 4:30 pm

    Take a look at the tremendous growth of Chinese social network site Mystaru.com.

    Very big things going on there.

57. Angie Chang
    

    March 13th, 2008 at 5:08 pm

    Go Bebo!

58. Moe Glitz
    

    March 13th, 2008 at 5:23 pm

    Considering just how many Web Advertising Companies have been brought over the past year by the likes of Microsoft, Yahoo, Google & Yahoo, its no wonder these Web Giants are now looking to buy up any Web Company that has a large User Base.

    But just how much of a gamble is it for these Web Giants, especially since MySpace’s Web Advertising Partnership with Google has failed to generate the Ad Revenues that both Companies had originally forecasted.
    Advertising on the Internet is an extremely hard place to deliver the right targets, especially on popular Web 2.0 sites like YouTube.

    Advertising Text Links on Search Sites will always rule the Web Advertising Game, as their business model will always work when people are looking for things to buy or explore.
    But when these same Users go onto their favourite Social Networking Site, they are only keen on communicating and socialising with their family and friends. They feel no need to search for things to buy.

    But this deal between AOL and Bebo, just shows how Microsoft paid silly money for just a tiny piece of Facebook.
    No wonder Facebook is rushing to set up an IPO. Whilst the Company is hot it is best to get some real money for the Companies founders, especially as they will never get the same through unattractive Web Advertising.

59. shafi
    

    March 13th, 2008 at 6:12 pm

    You never know the AOL(Time Warner) stock can go up 850M $ tommorow. The 1.65B youtube (worth 3.2-4.0B+ today) was nothing compared to google stock price increase since Oct 2006.

60. Avatar
    

    March 13th, 2008 at 6:43 pm

    So you protected the source uh?, well i went by with what i felt was the right call back over a month ago:

    http://www.widgetslab.com/2008.....me-to-sell

    Today i extended my points on it:

    http://www.widgetslab.com/2008.....buys-bebo/

    i hope you don´t mind my shameless plug…

61. Sally Wu
    

    March 13th, 2008 at 7:58 pm

    I think AOL’s aquitision of bebo portends the end of bebo…
    http://webpoet.wordpress.com/2008/03/13/bebo-aol/

    TWL

62. steven emery
    

    March 13th, 2008 at 10:31 pm

    wow the gentlemen commenters certainly hit this one out the park. desperation is rampant. I cant see how anyone in the US would change there established social accts on facebook or myspace for some site called something no one can understand (bebo). Especially since they offer the same thing. Social Networking has a bottom and its not hard to see. There is only so much people want to do when they social search. Facebook and myspace have that all wrapped up with there platform and user 60,000 widgets. Bebo as a domain is just as bad as Hulu. we dont need another domain that needs explanation. How much pull did the domain myspace ( a personalized location based domain name) have to do with its success. Where would myspace be if it was called baba. I smell crackle. Congrats to bebo sellers and the venture investors. great work.

63. steven emery
    

    March 13th, 2008 at 10:47 pm

    That picture ceo and bebo says a thousand words. CEO tired not really happy and bebo chick on the happiest day of her life smiling like she just robbed a bank and got away with it. Extended hand shake is a sign of a hard pressed relationship. Ceo shows some signs of pain. I dont sense alot of love between the two. awesome work by the sellers of bebo. Shows AOL has money they really dont know what to do with.

64. Michael Vu
    

    March 13th, 2008 at 11:48 pm

    Lovely! Go Bebo.

65. Marah Marie
    

    March 14th, 2008 at 12:49 am

    Wow, the Modavox people sure are one angry bunch. Just looked up some old Silicon Alley Insider posts on it and they about wanted Henry Blodget’s head in both of them for daring to suggest the suit was “ridiculous” (a source said that, not him) and that they were “patent trolls”.

    I’m not known for liking AOL but I really don’t like patents, either.

    Modavox had the technology patented *one week* before AOL acquired Tacoda. I suspect they decided to cash in, knowing if they patented it fast enough they could sue after the Tacoda buy that they *knew* was going down.

    My question: shouldn’t that be illegal? I say couldn’t AOL countersue for Modavox moving to patent the technology only after they got possibly illegal insider information on the AOL/Tacoda acquisition?

    Based on that the Modavox suit could be dismissed as frivolous/fraudulent, couldn’t it?

    Say me and Company X have the same technology to um, let’s see, read and sort XML formats for search engine results. Then my friend who works for Google tells me that G is about to acquire Company X. Both of us are using the same technology, so I rush out to patent mine so I can sue Google when they buy Company X, claiming that the use of “my” technology is now illegal, this ruining the acquisition’s purpose, weakening Google’s cash flow for nothing, and pumping myself up as the only player with technology for reading/sorting XML formats that can now be used legally.

    But if I do what I described above, haven’t I just broken the law?

    I’m not sure what the law is on that, but to me, it sounds like I’ve broken it, indeed.

    The timing of this patent was why I never sided with Modavox on the lawsuit (and never wrote a word about it until now, either) and I never will. I can’t even stand the idea of them being so lame that they have to create a patent just to get some money out of a lawsuit against AOL over it - losers!

66. Skip H.
    

    March 14th, 2008 at 7:07 am

    Marah

    Wow very personal, you sound like something struck a chord with you. Congrats on posting the most single ignorant and innacurate comment I’ve read in weeks.

    You should really do at least a little research before speaking. Modavox’s original patent sited in their suit was awarded in 1999. They were actually suing Tacoda before it was announced they were being purchased and they are the farthest thing from a patent troll.

    To rebut the rest of your comment would be a further waste of my time and only further highlight your ignorance, not the point of these forums.

67. petnos
    

    March 14th, 2008 at 7:18 am

    AOL make a big shot and they hit 12, in my opinion. And here is a point to know; bebo using yahoo for search results and its new owner is partner with google what will happen?

68. FileMaker Plugin
    

    March 14th, 2008 at 8:03 am

    I just hope they continue to work on and improve the site but don’t try to overally integrate aim/icq so you miss out if you aren’t using them.

69. Bob C
    

    March 14th, 2008 at 10:19 am

    Skip, I read that post and was rolling on the floor. Anyone who understands technology patents knows they take years to issue and once issued, they are presumed valid. Just look at the Limelight Networks and Akamai litigation that recently went in Akamai’s favor. When he said they immediately patented the technology knowing Tacoda was going to be acquired, I literally hit the floor!!!! I’ve looked at the Modavox patents, I have no current concept of their value. With behavioral targeting taking center stage over the last year, if they are real, it would clearly make them a likely target to be gobbled up. I wonder if that lawsuit will at least need to be at least settled before AOL tries to spin off Platform A in its proposed IPO. It’s hard to take any company public when prominantely displayed in the prospectus is that you are being sued for infringement when you are relying so heavily on that specific technology to execute your business.

70. wow
    

    March 14th, 2008 at 11:17 am

    @ at 67, but AOL uses google search.

71. Daniel Chege
    

    March 14th, 2008 at 1:39 pm

    AOL is a big company and they can afford to buy BEBO, but what is the most advantage (apart from web traffic) for buying it when they have their own music site?

    Daniel Chege
    Poppaproductions@gmail.com
    Poppa Productions Web Designs

72. Jon Wu
    

    March 14th, 2008 at 2:40 pm

    Does anyone know how much Michael and Xochi Birch made personally?

73. John Williams
    

    March 17th, 2008 at 3:17 am

    Congratulations to AOL and bebo,we also need someone to finance us

74. Fred Arkhurst
    

    March 17th, 2008 at 3:20 am

    We are happy with Bebo,congratulations.
    http://www.jollymates.com