A spokesperson for Bebo confirmed it would be making an official announcement early next week, in response to a leak that appeared on the blog, and it is understood Wasmund will begin her new role over the summer.
Wasmund set up her first business, a PR and marketing company in 1995. She had previously worked on creating the Dyson brand with James Dyson, and is a past recipient of the Cosmopolitan Business Woman of the Year award.
Prior to her move to Bebo she has been running Financial Detox, a subscription-based financial advice website, of which she is a co-founder.
At Bebo, she will oversee the social networking site as it competes for market share against US rival Myspace.
Earlier in the week, Myspace hired David Fischer, the former Sony Music Entertainment and AOL Europe chief, as managing director for the UK and Europe, as part of its plans to expand its European business.
In December 2000, Wasmund set up Mykindaplace.com, a teen magazine website offering music, clothes, fashion, showbusiness news and beauty tips. The business, which was funded by BSkyB and Freeserve, became profitable 14 months after going live.
An official announcement about Wasmund's appointment is expected from Bebo early next week.
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