Bebo founder returns to social network as adviserDecember 9th, 2010 in Technology / Business
(AP) -- Bebo, the social network that was dumped by AOL two years after the Internet company purchased it, is trying to regain some startup magic by bringing back its founder.
Bebo is announcing Thursday that Michael Birch, who started Bebo in 2005 and sold it to AOL for $850 million in 2008, has returned as a strategic adviser. He has also invested an undisclosed amount in Bebo.
Birch says he hopes to help Bebo's current management make the social network "relevant again." The current team was put in place after AOL Inc. sold Bebo to Criterion Capital Partners in June for an undisclosed amount.
©2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
"Bebo founder returns to social network as adviser." December 9th, 2010. http://phys.org/news/2010-12-bebo-founder-social-network.html