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Digg.com Sold To Betaworks For $500,000

Posted by samzenpus on from the so-long dept.

New submitter MyFirstNameIsPaul writes "The once popular social news website Digg.com, which received $45 million in funding, is being sold to to Betaworks for $500,000. From the article: 'Betaworks is acquiring the Digg brand, website, and technology, but not its employees. Digg will be folded into News.me, Betaworks' social news aggregator. This is not the outcome people expected for Digg. In 2008, Google was reportedly set to buy it for $200 million.'" Update: 07/13 12:26 GMT by S : Looks like real number is about $16 million.

6 of 193 comments (clear)

  1. When Kevin Rose Wanted to Eat a Taco by hovelander · · Score: 5, Interesting

    If I remember correctly, wasn't Digg supposed to be the new Slashdot without the hardcore Geek Cred? Didn't Kevin Rose speak directly to CmdrTaco about the failings of Slashdot? Kevin doesn't seem that bad a guy, actually, but he had two major failings that I can see:

    - Not selling at the top of the market, which is usually hard to gauge anyway, (and didn't he leave some time ago?)

    and the most important failing:

    - Dumping Sarah Lane so that she could later travel the world on Honeymoon and get a brain eating parasite.

    Better Days to them both.

    1. Re:When Kevin Rose Wanted to Eat a Taco by mysidia · · Score: 3, Interesting

      Perhaps Diggs' new owners will use "cvs update -r DIGG_UPDATE_3" or whatever and undo the heinous redesign ?

    2. Re:When Kevin Rose Wanted to Eat a Taco by rgbrenner · · Score: 4, Interesting

      digg is still bigger than slashdot.. about 5x bigger

      http://www.alexa.com/siteinfo/slashdot.org
      http://www.alexa.com/siteinfo/digg.com

    3. Re:When Kevin Rose Wanted to Eat a Taco by jellomizer · · Score: 3, Interesting

      But unfortunately Slashdot has one of the better and smarter public discussion boards. (Which doesn't really bode well for the others including digg)
      Dig focuses mostly on the links. Slashdot focuses on the discussion. Digg gets more hits but Slashdot people stay on it longer.

      --
      If something is so important that you feel the need to post it on the internet... It probably isn't that important.
  2. Forget Digg... by billybob_jcv · · Score: 4, Interesting

    What does that mean for the valuation of /.?

  3. Ephemeral values of interwebs properties by ackthpt · · Score: 3, Interesting

    This is why I won't buy stock in fazebook.

    --

    A feeling of having made the same mistake before: Deja Foobar