Vanethyr
Member
Yes, that Bebo.
While Facebook makes a bold move into cryptocurrency to capitalise on its multi-billion user base, a social network that was once a credible competitor to it has quietly been snapped up by a subsidiary of Amazon. TechCrunch has learned and confirmed that Bebo, one of the earlier platforms to let people share thoughts and media with their friends, has been acquired by Twitch, the streaming video platform owned by Amazon. Together the two will be working on building out Twitch’s esports business, and specifically Twitch Rivals.
A spokesperson for Twitch confirmed the acquisition, which includes both people (around 10 employees) and IP, but declined to provide further comment.
From what we understand from our sources, Twitch paid up to $25 million for the company earlier this month, after beating out at least two other bidders, Discord (which itself has been building out its own esports business), and… wait for it… Facebook. (Our source says the latter offered $20 million.) Indeed, LinkedIn profiles for ex-Bebo employees — see here, here, and here — now at Twitch note June as the changeover date. (Note: original sources say $25 million, others close to the deal say it was materially less than this. As you know, these things can be described differently depending on who is doing the describing.)
Amazon's Twitch acquired social networking platform Bebo for up to $25M to bolster its esports efforts | TechCrunch
While Facebook makes a bold move into cryptocurrency to capitalise on its multi-billion user base, a social network that was once a credible competitor to
techcrunch.com
More at the link - it might be a lot less than the $850m AOL paid for it back in 2008, but at least that would have been nearer the time anyone actually used the site...
I won't blame you if you thought you misread the title, I certainly did.
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