Valleywag: Michael Birch

You're invited to Michael and Xochi Birch's Bebo farewell party

Jackson West — Wed, 04 Jun 2008 15:40:00 PDT

Bebo founders Michael and Xochi Birch cashed out in the nine figures with the social network's $850 million purchase by AOL. According to the invite for their farewell party, they'll be retiring to a humble, quiet cabin (which, in the Bay Area housing market, should set them back a million or two). What they aren't spending their windfall on?

Hot air balloon rides and circus performers. But then it would be difficult to fit either into 1015 Folsom, where the party is being held tomorrow night. As for the rest of Bebo's original employees? They've all left already.

Michael Birch's first social networking sellout a blowout

Owen Thomas — Tue, 03 Jun 2008 14:40:00 PDT

In 2003, social networking was not yet faddish. Michael Birch sold his self-admitted Friendster clone, Ringo, to online dating site Tickle for a pittance. He came to see that as a mistake, and went on to found Bebo, which he sold to AOL for a giggle-inducing $850 million. A cautionary tale for AOL: Tickle, now a unit of online jobs site Monster, laid off most of its employees in April, and informed its users by email over the weekend that Ringo was shutting down for good. (Photo by Michael Birch)

Even Bebo's cofounder thinks AOL's $850 million is a joke

Nicholas Carlson — Tue, 22 Apr 2008 08:38:05 PDT

Poor AOL CEO Randy Falco. He believes that acquiring the social network Bebo for $850 million put AOL in a "leading position" in social networking. Everyone else thinks the buy was a joke — including Bebo cofounder Michael Birch. Asked at an event yesterday about the purchase price, Birch said, "850 million is an interesting number. It's a lot bigger than some numbers and a lot smaller than some numbers. It's not a prime number." Asked how AOL bid itself up to $850 million, Birch said $800 million of it was due Bebo's popularity in Fiji. "Fiji is an up-and-coming market," the Birch told the crowd. Don't wonder why he's so giddy. Birch and his cofounder, his wife Xochi, earned $595 million on the deal.

Bebo founders earn $595 million, enough to buy a haircut

Nicholas Carlson — Fri, 14 Mar 2008 13:00:09 PDT

Michael and Xochi Birch met in a London pub back in 2005. Later, the pair decided to launch a social network from their San Francisco living room. About 40 million people signed up and two years later, AOL plunked down $850 million to buy the site. The Birches, who reportedly owned a 70 percent stake in the company, walk away with $595 million. Our advice for the first few dollars spent, below.

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