Last month Bebo founder Michael Birch bought back the failed social networking site he founded for $1 million. Today, he announced a plan to wipe the slate clean, and to start the site over. Gone, he promises in a hilarious video announcing the return of the site, are the penis illustrations and career-ruining photos.
“Will it work?” he asks of his plan to reinvigorate the site. “Who knows, but it’ll be fun trying.”
Bebo’s story is one of a spectacular fall from grace. Birch sold the site – at one point the most popular social network in the UK, eclipsing even MySpace – to AOL for $850 million in 2008, and walked away with nearly $600 million from the deal.
The site quickly buckled under the ascent of Facebook, however, and its audience numbers plummeted.
AOL eventually sold the site to digital media investors Criterion Capital Partners in 2010 for a reported $10 million – at a loss of $840 million. Birch himself bought it back last month for just $1 million.
Here he is in his own words:
How clients are dictating agencies’ return to in-person work
As we continue redefining work culture, client relationships are often influencing the way agencies and media firms make real estate decisions.
Why BeReal poses security risks at work
Part of BeReal's appeal and its differentiation from other social media platforms is the spontaneity and lack of planning for what is shared. But that presents its own challenges.
Apple, Spotify podcast feeds pose challenges for growing subscriptions
Podcasters are waiting for Apple and Spotify to offer more flexibility and features to grow listenership and discovery for show subscriptions.
SponsoredHow marketers are tailoring data-driven creative to engage audiences on CTV
Gabriela Maestre, vice president of creative solutions, Tremor International As the end of the year approaches and marketing teams look to finalize their 2023 budgets, many are wondering how to ensure their ads are set up for success in the months ahead, appealing to unique audiences whose media consumption habits continue to evolve. Advances in […]
Media Briefing: Publishers prepare for an earlier holiday shopping season
Gallery Media Group and Future are reworking their affiliate commerce content strategies this month to cover retailer's shopping events.
Massive political advertising clashes with holiday media buying, creating a ‘tsunami’ effect for Q4
This year, the fourth-quarter ad marketplace feels quite different, and for a number of reasons, some for the better and some not.