The Internet oriented guru Michael Birch who found the social platform Bebo got famous not just for his wits and entrepreneurial spirit but for selling his company for $850 million just to buy it back for $1 million 5 years later.
Birch and his wife Xochi have actually founded a dozen other start-up companies in their nearly 15 short years in the industry. In 2005 they launched an incredibly innovative and user-friendly social networking platform called Bebo. In it’s peak there were over 45 million registered users and the site grew to become the 6th most popular website in the UK. After being acquired by AOL, Bebo’s successful growth rapidly started declining. The new leadership was obviously not well prepared to keep up with the fierce competition in the face of Mark Zuckerberg’s social network which was rapidly gaining popularity.
Michael Birch joins the club of inspiring successful entrepreneurs who return to save their own creations. Similar to Steve Jobs returning to the sinking Apple Inc. just to make it the world’s most valuable company.