From PC Mag: Bebo, a social network launched in 2005 that was once the largest in the UK, has been acquired by Amazon's video game streaming platform Twitch in order to build the platform's eSports business and, specifically, Twitch Rivals - a series of competitive eSports events.
As TechCrunch reports, the acquisition includes Bebo's 10 employees and its intellectual property. Amazon is thought to have paid $25 million for the company, beating competing offers from chat app Discord and social media giant Facebook, which apparently offered $20 million.
Bebo's success as a social network was bright, but short. At the height of its popularity Bebo enjoyed a reported 10.7 million unique users, overtaking MySpace in the United Kingdom and Ireland. However, after the rise of Facebook, Twitter, and Instagram the company eventually filed for bankruptcy in 2013.
Before this week's acquisition, Bebo had been purchased back by its original founders for $1 million who then proceeded to turn it into a destination for organizing and running tournaments for streamers. Those streams were broadcast on Bebo.com (which is now offline) and Twitch.
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