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.

Don't miss out... Get your Social Media news by email

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

Latest Projects from the Profile Hub

Agency51 Design & Development - Women Make Waves

22/07/2014
Challenge. Women Make Waves is a new online blog network...

Swoon Editions

22/07/2014
The Client Swoon Editions is an online furniture brand that...

Asda Store Proposition Intranet

17/07/2014
The Client Asda is Britain’s second largest supermarket...

Timberland Apparel merchandising

15/07/2014
Six large installations in Milan for footwear and apparel....

Hudson Fuggle: Case study

15/07/2014
We spoke to Sue Higgins Finance Director at creative agency...