Bebo is a social networking website launched in 2005. It now describes itself as "a company that dreams up ideas for fun social apps;" Joe Mbu, the man behind the Bebo relaunch, has confirmed that the site will not be returning as a social network but as a company that makes social apps. The company announced the launch of their newest app, Blab, in early 2014 and in December 2014 a new version of Bebo launched as an avatar hashtag messaging app. As of July 2013, it is owned and operated by its founders Michael Birch and Xochi Birch, who took over from Criterion Capital Partners after the company declared bankruptcy. Bebo was founded by husband-and-wife team Michel and Xochi Birch in January 2005 at their home in San Francisco. The website name was bought by the founders, and the backronym "Blog Early, Blog Often" was invented to answer the question of what the name meant.