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Bebo seeks revenge on Facebook and Twitter by making a comeback

Unpopular social network Bebo is facing resurrection, following its purchase by one of its co-founders.

Michael Birch, who created Bebo with his wife, Xochi, in 2005, took to Twitter to announce, "We just bought Bebo back for $1m. Can we actually re-invent it? Who knows, but it will be fun trying..."

The founders originally sold Bebo – which by then boasted 40 million users - to AOL in 2008 for a massive $850 million (£560 million), but things soon turned sour.

Due to various issues, including lack of investment and the emergence of Facebook and Twitter, Bebo quickly became irrelevant and was eventually sold on to Criterion Capital and a consortium of individual investors for $10 million (£6.6 million) in 2010.

Bebo, which stands for "Blog Early, Blog Often," sought Chapter 11 voluntary bankruptcy protection in May this year, before being put up for sale once again.

Birch's incubator firm, Monkey Inferno, will be responsible for Bebo's revival.

"We know the odds are stacked against us, but we love challenges and the Bebo users deserve better than what they have received the past few years," said Shaan Puri, CEO of Monkey Inferno.

According to TechCrunch, the firm is bringing in mobile developers to work on the project, which will also bring Bebo back to its roots.

In 2006, Bebo was the sixth most popular site in the UK, used mainly by teenagers.

Much of the world, including Birch himself, thought that Bebo had been killed off last year after the website went down for a lengthy period of time.

MySpace, just as Bebo is trying to do, made its own comeback recently, enlisting Justin Timberlake to aid its cause.