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 …"
Internet pioneers Yahoo and AOL are changing hands yet again as Verizon is selling its Verizon Media branch for about $5 billion
One of the lab's first projects is for Time Inc and Sports Illustrated.
Next week's November issue of ELLE will now feature AR.
This is how you do business. Great move. Even if he doesn't succeed in "reinventing" it, he wins.
Kinda wish other people that have sold their websites would buy them back. Digg comes to mind.....