Bebo Founders Will Make About $600 Million
By Rafat Ali - Sat 15 Mar 2008 08:14 PM PST
Bebo founders and husband-wife team Michael and Xochi Birch will make 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 a 70 percent stake at the time of the deal. 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.
Posted in: Companies, Time Warner, AOL, VC+M&A, Mergers & Acquisitions
Tags: bebo,
