Originally posted on VentureBeat:


Community news sharing site Digg has been acquired by Betaworks, Digg CEO Matt Williams announced today in a company blog post.

Ordinarily, this would be a good thing, especially since the company has been making a serious attempt to sell itself for the last six months or so. However, the Wall Street Journal is reporting that the sale price was a measly $500,000 — ridiculously lower than the rumored $200-$300 million it was asking back in 2008.

Four years ago, Digg was at the forefront of any public discussion on the news industry’s evolution. The site had a healthy active user base that could drive tens of thousands of visitors to any website fortunate to have a link on its front page, and special media spotlight partnerships with the likes of Al Gore and Dan Rather. But that was then, and this is now.

According to the terms of…

View original 710 more words

About these ads

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s