Originally posted on VentureBeat:

Digg

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…

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