Bebo co-founder buys back network at $849 million discount

07/2/2013 | · TechCrunch

Bebo co-founder Michael Birch bought back the social network for $1 million -- about $849 million less than AOL paid to acquire the site in 2008. That colossal discount is a reminder that copycat social networks don't tend to fare well unless they have a specialization or other obvious advantage over the market leader, Ryan Tate writes.

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