Earlier this summer, Michael Birch bought back the company he and his wife founded together, Bebo.
Bebo was once an all-powerful social network and in 2008, it sold to AOL for $US850 million. Facebook came from behind and crushed it, destroying Bebo’s value but not Birch’s wealth. He and his wife made a combined $US600 million on the deal. Birch was able to re-acquire Bebo for $US1 million.
What does he plan to do with the company? He’s not sure.
“The new Bebo will be very different from the old one,” he says after showcasing some phallic artwork produced on the initial site. “Will it work? Who knows.”
Here it is, below: