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July 2, 2013

Bebo is back in the family as founders buy it back from Criterion Capital Partners

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Back in or around 2005 Bebo was launched by  Michael and wife Xochi Birch. It took Bebo only two years or so to become the largest social network in the UK with 107 million active users, passing MySpace who had 10.1 million, much to Microsoft irritation. Facebook at the time had approximately 7.5 million users.

Now however Bebo will have some work to do to catch, never mind pass Facebook’s 30 million or so UK users.

The Birch’s sold Bebo to AOL for a whopping $850 million (that’s about £560m / AU$930m). AOL then sold it to Criterion Capital Partners for $10 million.  Now they have dipped their hands into their wallets and paid just $1 million for Bebo.

Michael Birch’s tweet said it all where he revels in the fact he just purchased his own baby back:

“We just bought Bebo back for $1m. Can we actually re-invent it? Who knows, but it will be fun trying…”

Well we are hoping they can  as Bebo was a nice social networking site. Do you think the brothers-in-arms can breathe new life into their once little baby, let us know in the comments box below.

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Dave Thornton

Senior Editor

Senior Editor
Been involved in technology for many years, more than I care to remember. Live in Dundee, Scotland. I like Android, Windows Phone OS, BlackBerry OS and iOS, and love writing about all things techie. Currently have a Honor 6+, Elephone P6000, Nexus 5, Chrombook C720, HTC One M7, Nokia Lumina 625, Microsoft Lumia 435, Blackberry Q10, HTC Hero and iPad mini