The original owners gained $849 million dollars between selling and buying back. This is a large profit and now they will either reinvent it and make another considerable profit, or they will fail and only lose .1% of their initial profit. This was in total a low risk move with the possibility of high reward. They were able to make a profitable social network before and are willing to do it again.
The Bebo founders worked very hard to build their company and sell it for $850 million. They got a screaming deal the other day when they bought it back for one million dollars. Now they can start from the bottom again, and revamp their company. What a project to build their baby up again!
No, it was not worth the founders buying back their company 5 years later for 849 million less than its original sale price because inflation has made that figure even more of a loss. They should never have sold their company in the first place, but they should have been willing to move on once they did.
Logic says this is a stupid move. After all old owner acts as "advisor" and company goes from $10m -> $1m is not too impressive "advice."It would be nice to have a British/European social network, stored on a British/European server, answerable to British/European laws and dare I say, paying British/European tax if it makes a profit.