Tuesday July 02, 2013

Sell For $850M, Buy Back For $1M Deal of the Day

Selling your craptastic social media site for $850 million, and then buying it back for $1 million five years later, is the "holy crap" deal of the day. eek!

It could be the bargain of the century or a triumph of hope over experience. The British founder of Bebo, the social network which briefly soared in the noughties, has bought back the company he originally sold for $850 million for just $1 million.