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from the L.A. Times

Bebo brings back founder as strategic advisor

Bebo, the social network bought by AOL and sold just two years later, said it has regained its founder Michael Birch as a strategic advisor.

Birch started the website, an acronym for Blog Early, Blog Often, in 2005. He built it up and sold it to AOL Inc. for $850 million in 2008. Bebo

In June, AOL sold Bebo to Criterion Capital Partners for an undisclosed amount.

The site, similar to Facebook and other social networking sites, gives users the opportunity to post blogs, pictures and videos. But its popularity has waned with the rise of sites such as Twitter and LinkedIn.

"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," Birch said in a statement.

The company said Birch also invested money in Bebo, although the amount was not disclosed.


AOL to sell or shut down social networking service Bebo

AOL sells social networking site Bebo to L.A. private equity firm

-- W.J. Hennigan

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