Twitch acquires Bebo to expand esports platform
Bebo launched in 2005 before Facebook spearheaded the social media frenzy
| Date | Type | Companies Involved | Size |
|---|---|---|---|
| Jun 19, 2019 | acquisition | Twitch Interactive | $25m |
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Streaming behemoth Twitch has quietly bought social networking site Bebo.
As confirmed by Techcrunch, the acquisition is in aid of developing Twitch's esports sector, alongside Twitch Rivals - the platform's series of competitive events.
A spokesperson from Twitch confirmed the $25 million deal, as well as the inclusion of Bebo's IP and around 10 employees. No further comment was made.
Bebo was founded and launched in 2005 by Michael and Xochi Birch, and quickly became the most popular social network in the UK for a time, dethroning MySpace. In 2008, the site was sold to AOL for $850 million.
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