AOL who own Bebo yesterday announced that they are thinking of either selling it or shutting it down:
http://paidcontent.org/article/419-aol-admits-bebo-could-be-sold-or-shut-down-may-target-for-decision/
Bebo has been haemorrhaging visitors (as you can see in the following chart - 45% down in 1 year) and AOL don't see any value in continuing to pump money into it:

Ireland is one market where Bebo has got a secure foothold, at least in a certain demographic. Should it close down can we expect a flood of Irish Bebo users to Facebook?

These things go in cycles, it's reckoned that social networking sites have a limited shelf life before people jump ship to the next big thing. Facebook might buck the trend through sheer volume of users, but I constantly hear friends say they are fed up of facebook and are thinking of shutting their account, though these are usually the technologically baffled who have been stung by not understanding how to utilise privacy features properly.