Ailing Bebo Bought In Auction

Ailing Bebo Bought In Auction

Bebo is on the verge of being relaunched following an auction in which one of its founders bought the firm for £657,000.

The site sought bankruptcy protection two months ago and Xochi Birch has purchased it from receivers.

Bebo was a hit in its early years and was sold to AOL for £558 million in 2008, but a drop in interest saw it sold on for a fraction of that two years later.

After announcing the deal, Mr Birth tweeted: "Can we actually reinvent it? Who knows, but it will be fun trying."

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