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Gawker
  • Jackpot

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

    By Nicholas Carlson, 4:00 PM on Fri Mar 14 2008, 3,857 views (Edit, to draft, Top, Slurp)

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    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.

    Local business results for hair salon near San Francisco, CA

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    More about Michael Birch

    Real Estate

    Bebo cofounders buy $29 million cabin on a hill

    Well, it's on a hill, but it sure ain't a cabin. Instead, Bebo cofounding couple Michael Birch and Xochi Birch have purchased a $29 million manse in Pacific heights on the corner of Broadway and Broderick.
    Jackpot

    Barely legal billionaires insist there's tons more money to be made

    21-year-old billionaires in the making? To tell the truth, the youngest Forbes has come up with in the past decade was Elon Musk at 27. That was back in 1998, with only $22 million.
    Crash This Bash

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

    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). More »

    Read More: Jackpot, Michael Birch, Xochi Birch, AOL, Bebo, Valleywag
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