Though AOL arguably helped pave the way for the current social networking boom with their Instant Messaging service way back when, the fledgling and nearly-forgotten company is now reportedly trying to join a crowded faction of the web with a new social network, likely called NVIBE.

AOL registered the domain on September 9, the same day applying for five trademarks of social networking services. This is not AOL’s first tango in the world of social networking. Along with Instant Messenger, AOL acquired the social network Bebo in 2008 for the hefty pricetag of $850 million. However, just two years later, AOL sold Bebo for roughly $10 million.

With experience like that, along with losing leverage as the most well-positioned company at the dawn of the internet era, who could ever expect for something like this to go wrong?

[via ReadWriteWeb]