Social Network Bebo Re-Acquired by its Original Owners for A Million Bucks

Bebo has been re-acquired by its original owners for a million bucks and is heading to its online repackaging for completion . This all happened while other former leading social networking sites, such as Digg and MySpace, are now under a new ownership and/or management.

In 2005, Bebo made its first online appearance and had gathered a huge following, which consisted mostly of adolescents and young adults. Bebo, at its height, had an estimated usership of about 40 million and was at that time the première social site of the UK. Three years after it’s online launch, Bebo came under the ownership of America Online (AOL) for almost a billion US dollars, however, it failed to overcome Facebook’s popularity because of the latter’s wide audience coverage and big market share.