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.
We just bought Bebo back for $1m. Can we actually re-invent it? Who knows, but it will be fun trying...— Michael Birch (@mickbirch) July 1, 2013
The social property never got close to accumulating a … Read more