Thursday, December 09, 2010

BBC News - Bebo founder buys stake in the company he sold

Yeah, I suppose he could afford it…

The former owner of social networking site Bebo has re-invested in the ailing company which was sold off for a fraction of the price AOL paid for it.

Michael Birch originally sold Bebo to AOL for $850m (£540m) in 2008.

Its fading fortunes led AOL to dump Bebo for a reported $10m earlier in 2010.

BBC News - Bebo founder buys stake in the company he sold

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