Here is the full story
Bebo founder pays $1m to buy back site sold for $850m | Technology | The Guardian
He has pledged to put Bebo on right track after AOL spoiled the site [Bebo lost 40m users with AOL] but the main challenge he face is from Face Book.
As a British webmaster, will you be considering to benefit from Bebo after it is again in the good hands of Michael Birch? [I will certainly be keeping eye on it ]