Digg.com Sold To Betaworks For $500,000

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.

Comments

Slashdot won't go for even that

[Anonymous Coward]

It's sad that digg was supposed to be the successor to slashdot, and look at their value now, almost next to nothing.

I see slashdot going down that same path, it is so obvious to any long time reader. These sites started out with so much promise, but bad leadership and decisions have led them to oblivion.

So long digg, and so long slashdot you are next.

Not sure about that

[SuperKendall]

Newsweek will also be around longer than Digg.

I am really doubtful of that, Newsweek will cease to exist after the election as at this point it is solely a propaganda rag that will lack use after the election is finished (no matter who wins).

Meanwhile Digg will continue to sit there, possibly mismanaged but carrying on as it has been. They could probably simply leave it running as-is indefinitely and make money for quite some time off referrals and ad revenue.