Wow. Techcrunch is reporting that San Francisco based Bebo has turned down in excess of 550M in a buyout offer. Wow. With social networking sites so big, one has to wonder at what point do Blogs (even Terrible Blogs) will will start to morph into a community that would warrant a buyout even in the millions. Are there any blogs that have sold out for this much yet?

My friend Shane (from Three Twenty Interactive) and I were talking a few months back about the sale of a blog. In his case it was for Blog Herald and it almost went for $72,000.

I just have to wonder at what point blogs will have the same appeal for a major sale that sites like MySpace, Bebo and Facebook have seen in recent months. Any thoughts?