Bebo founder buys back social network for $1M

Long forgotten 8-year-old social network Bebo, which AOL bought for $850 million in 2008, is escaping near death once again. Original Bebo co-founder Michael Birch said in a tweet Monday that he has purchased the property from owner Criterion Capital Partners (CCP) for $1 million with plans to reinvent the site. AOL sold Bebo to CCP three years ago for reportedly less than $10 million.
The social property never got close to accumulating a billion-plus users like Facebook, but it still played a key part in the coming of age of social networks. In 2006, Bebo held the title of the sixth most…

The rest is here: Bebo founder buys back social network for $1M

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