This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Digital
Bebo back in ownership of founder
By Chris Cooke | Published on Wednesday 3 July 2013
Well, if MySpace can have another stab at success (well, survival), why not Bebo?
The founder of the social network that for a time competed pretty seriously with MySpace and Facebook (especially amongst teens) has bought the company back for a million dollars, having sold it to AOL in 2008 for $850 million. Ah, those crazy, crazy digital deals.
Michael Birch confirmed he had bought back the social networking brand and platform on Monday, tweeting: “We just bought back Bebo for $1m. Can we actually re-invent it? Who knows, but will be fun trying…”
AOL offloaded Bebo to a bunch of equity types in 2010 in a deal reported to be worth less than $10 million. The new owners subsequently brought Birch in as an advisor, before eventually decided to bail on the venture.
The Bebo founder’s San Francisco-based company Monkey Inferno is now reportedly working on redesigning the site. It’s not known which former member of N Sync they plan to bring in as a creative advisor. My money’s on Lance Bass.