Criterion Capital Partners


Criterion Capital Partners LLC, also known as simply Criterion, is a private equity fund based in Los Angeles. It is best known for being the owner of Bebo, from 2010-2013.

History

Christopher Lord co-founded the company in 2002.

Bebo

Criterion acquired social networking service Bebo in 2010. Bebo was previously owned by AOL, who originally purchased the service for $850 million in 2008. The acquisition had failed as Bebo's business was declining. AOL sold the company for less than $10 million to Criterion. Following the acquisition, Bebo's business did not improve. In April 2012, the minority shareholders filed a $5 million suit against Criterion for “destroying the site". Then in May, TechCrunch reported that Bebo filed for voluntary Chapter 11 bankruptcy.