Bebo Founder Michael Birch Invests In His Own Social Network That He Sold Off

Michael Birch, the co-founder of Bebo, is investing money into the same social network that he sold to AOL for $850 million. The amount he is investing is undisclosed. Birch is also becoming an advisor in the company. AOL had written off Bebo and sold it to Criterion Capital last summer for a much smaller amount (pegged at around $2.5-$5 million). “There is a huge opportunity to re-invent Bebo, to approach social from a different perspective and create a viable alternative to the now established market leaders,” said Birch. [AllThingsD]

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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