Twitch, the live streaming video platform owned by Amazon, has acquired social networking platform Bebo. The financial terms of the deal were undisclosed but reports suggest that “up to $25 million” was paid for Bebo’s employees and intellectual property.
According to TechCrunch, the two companies will work together on building out Twitch’s esports business. The publication said Twitch acquired Bebo after beating out at least two other bidders including Discord and Facebook.
Launched in 2005, Bebo quickly became a popular social network and was acquired by AOL in March 2008 for $850 million, only to sell it just two years later. In July 2013, original founders Michael and Xochi Birch bought Bebo back for just $1 million.
The acquisition has been confirmed by Twitch but no further information has been provided.