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Bebo founder pays $1m to buy back site sold for $850m

The Guardian: The internet entrepreneur who founded Bebo has paid $1m (£660,000) to buy back the social networking site five years after selling it to AOL for $850m.

Michael Birch, who co-founded the site with his wife, Xochi, in 2005, tweeted late on Monday: "We just bought back Bebo for $1m. Can we actually re-invent it? Who knows, but will be fun trying …"

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In2iti0n2950d ago

This is how you do business. Great move. Even if he doesn't succeed in "reinventing" it, he wins.

Soldierone2949d ago

Kinda wish other people that have sold their websites would buy them back. Digg comes to mind.....