Amazon buys Bebo for $25M

|About:, Inc. (AMZN)|By:, SA News Editor

TechCrunch reports that Amazon's (AMZN +1.5%) Twitch acquired the social networking platform earlier this month to help build out its esports business, which includes Twitch Rivals.

The acquisition includes around 10 employees and Bebo's IP.

Bebo was founded in 2005, acquired by AOL for $850M three years later, and then sold to Criterion Capital for $25M less than two years later. The company filed for Chapter 11 and was finally repurchased by its founders for $1M.

Subscribe for full text news in your inbox