Tag Archives: Criterion Capital Partners
Bebo Founders and Shareholders Suing Criterion Capital
Bebo co-founders Michael and Xochi Birch (MXB Holdings) along with SV Angel, Michael Jackson (TV executive), and Richard Hecker have filed a lawsuit against Criterion Capital Partners, who bought Bebo from AOL in June 2010. The group of investors were persuaded to put money into Bebo after Criterion acquired the social network, but the investors are alleging that Criteron was mismanaging the website and withheld information from them.
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AOL Finds A Buyer For Bebo For A Lot Less Than They Paid For
AOL is selling social network Bebo for a small price. AOL bought Bebo for $850 million in 2008 and the numbers being thrown around for the sale is between $5-$10 million. The buyer is expected to be Criterion Capital Partners. Selling the social network at a low price will allow AOL to write off the full purchase price for tax reasons. [WSJ]
Categories America Online, AOL, Bebo, Criterion Capital Partners
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