Bebo Founders Made About $600 Million
This story was written by Rafat Ali.
Bebo founders and husband-wife team Michael and Xochi Birch made about $600 million in the sale of the social networking site to AOL (NYSE: TWX) for $850 million. The two founders are reported to have about 70 percent stake at the time of the sale. This for less than three years of work. We reported earlier that VC firm Balderton Capital will reap about $140 million - nine times what it invested in Bebo less than two years ago - by selling its 15.7 percent stake.
A profile of the humble Birches, here in Times UK.
By Rafat Ali