AOL To Sell Bebo For Around $10 Million

The Birch family made out handsomely in this whole fiasco, leaving shortly after Bebo was acquired. Everyone else got fleeced.

This deal reminds me of the many horrible deals done at the beginning of the decade. It's not a surprise that AOL never learned their lesson.

Michael Birch is one brilliant/lucky dude.. 70% stake in an $850mil exit and the thing goes from slump to garbage bin within two years of his leaving it. Epic

Reminds of this great graphic ("The AOL- Bebo Value transfer equation"): http://www.broadstuff.com/archives/790-The-AOL-Bebo-Value-tr...

> Here’s why – complicated corporate tax rules will let Aol write off the full purchase price of Bebo if they declare it worthless and abandon the asset.

...yet another perverse outcome of overly-complicated, micro-managed tax codes. The law of unintended consequences strikes again! http://en.wikipedia.org/wiki/Unintended_consequences

I'll catch it on the rebound for $1K

still overpriced by, um, $10 million.

EPIC FAOL