3 Jul 2013

Bebo to be relaunched

12:23 pm on 3 July 2013

Social network Bebo is set to be relaunched after one of its founders bought the company at auction for $US1 million.

Michael Birch set up Bebo which became hugely popular with teenagers in the early 2000s.

It was sold to AOL in 2008 for $US850 million, but dwindling user numbers led to it being sold in 2010 for $US10 million.

Bebo then went bankrupt and Mr Birch has now bought the company from its receivers.

He tweeted: "Can we actually reinvent it? Who knows, but it will be fun trying."