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Bebo's Surprise Buyer: LA's Criterion Capital Partners

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Studio City-based private equity firm Criterion Capital Partners is the buyer of AOL's distressed Bebo social networking site, AOL confirmed today, after widespread reports that AOL would be selling the firm. The deal is reportedly worth less than $10M, and comes only two years after AOL paid $850M for Bebo.

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Advanced Telemetry Gets Win At Green House Showcase

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San Diego-based Advanced Telemetry , a developer of smart energy management systems for the residential and light commercial market, reported Tuesday that it has been selected for the ZENERGY House, a demonstration net-zero-energy remodeling project in Studio City.