Bought for $850m in 2008, sold it $1m in 2013, the story of Bebo

Here is the 'interesting' story of Bebo, the once very popular social networking site as reported by Guardian:

Michael Birch, the co-founder of Bebo, tweeted this week that he had bought back his social networking website from AOL for just $1m. In 2008, when Bebo was all the rage among teenagers, AOL paid $850m (£557m) for it.