1 July 2013 - 10:33pm | posted by | 0 comments

Bebo founder Michael Burch claims to have repurchased the site for $1m

Bebo founder Michael Burch claims to have repurchased the site for $1mBebo founder Michael Burch claims to have repurchased the site for $1m

Bebo founder Michael Burch has revealed that he has bought back the ailing social media platform for $1m, having sold it to AOL just five years ago for $850m.

In a tweet, Burch announced that he had repurchased the site with a tweet that read: "We just bought Bebo back for $1m. Can we actually re-invent it? Who knows, but it will be fun trying..."

Burch launched the social media site eight years ago before selling it to AOL, which in turn sold it onto CCP in 2010 for under $10m, while Facebook grew into a billion dollar property.

In April the site filed a bankruptcy motion and entered receivership before apparently being purchased by its founder.

Be the first to comment on this article: sign in or register.

Latest Projects from the Profile Hub

Search campaign increases revenue by 492%

21/05/2015
Hobbycraft had been investing in PPC for a while, but spend...

PG tips

21/05/2015
The definitive article Decades of evolutionary pack changes...

Raise a glass to Private Dining Room's online visibility

20/05/2015
Private Dining Rooms, an online venue finder, initially...

Wigmore Hall

19/05/2015
BRIEF Having worked with Wigmore Hall in the past, we were...

172% increase in non-brand profit year-on-year for Virgin Holidays

19/05/2015
Virgin Holidays is the largest transatlantic tour operator...