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"Bebo co-founder Michael Birch has bought back the dwindling social network from Criterion Capital Partners (CCP). The entrepreneur has completed a $1 million (\u00A3662,503) acquisition of the service and will now attempt to revamp it.  &amp;quot;We just bought Bebo back for $1m. Can we actually re-invent it? Who knows, but it will be fun trying,&amp;quot; he wrote on Twitter. Launched eight years ago, Bebo was once among the most-visited websites in the UK with 40 million registered users. The company was acquired by AOL during the peak of its popularity, only for the web giant to offload it as its user base waned. Birch is yet to confirm how he plans to reinvigorate Bebo. "^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.digitalspy.com/tech/news/a494890/bebo-founder-michael-birch-resumes-ownership-of-service/>