In 2008, Google offered $200m for it. Today, Digg was sold for $500,000
How the mighty have fallen – Digg, one of the pioneers in social media which was valued at over $160 million in the past, is now selling for approximately $500,000 – which is far less than 0.5% of its lofty peak valuation. Three persons who are familiar with the deal claim that New York technology development firm Betaworks is the buyer. The reason for purchasing Digg? To make an attempt in reviving this news-sharing site. $500,000 can be said to be a sham by some, where the company previously managed to raise a cool $45 million from prominent investors such as Facebook investor Greylock Partners, LinkedIn Inc. founder Reid Hoffman, and venture capitalist Marc Andreessen. I guess when it comes to the world of tech, it can be quite hard to tell the difference between a bubble and the real deal, and even if it were a bubble, it would be best to cash out when the going is good without letting emotion get in the way. Well, for $500,000, Betaworks will own a website that has a famous brand name,
It was the darling of "Web 2.0", a social media site worth $200m (£130m) which had the potential to outshine Facebook.
Fri 13 Jul 12 from The Independent
Faded social news star Digg announced Thursday that it has been bought by online media company Betaworks in a move aimed at reviving the firm's cache.
Thu 12 Jul 12 from Phys.org
?Don?t let him climb a wall. We haven?t finalized his life insurance plan.? That was one of the first directions I was given at Digg when I started in early 2008. ?Him? was Kevin Rose, the ...
Fri 13 Jul 12 from TechCrunch
Digg is sold for $500,000 - after turning down an offer from Google for $200million just four years ago
The service was picked up for a relatively humble £500,000 by New York firm Betaworks, a small price for what was once the celebrated internet darling which signalled the start of social sharing ...
Fri 13 Jul 12 from Daily Mail
Digg, one of the first social media sites, was bought on Thursday by development firm Betaworks for $500,000 ? a fraction of its value in the late 2000s. Betaworks has a plan to "take Digg back ...
Fri 13 Jul 12 from The Christian Science Monitor
How the mighty have fallen – Digg, one of the pioneers in social media which was valued at over $160 million in the past, is now selling for approximately $500,000 – which ...
Fri 13 Jul 12 from Ubergizmo
Sun Valley aside, the story of the day today is that social news site Digg has sold its remaining assets for $500K to the NYC-based tech firm Betaworks; While that number is indeed in the ballpark, ...
Thu 12 Jul 12 from TechCrunch
New York technology studio Betaworks has agreed to acquire social news aggregator Digg and all of its remaining assets as part of a deal rumored to be valued at only $500,000. It’s quite ...
Thu 12 Jul 12 from Techspot
The news aggregator service Digg says it has been bought by the owner of a New York-based competitor.
Thu 12 Jul 12 from BBC Technology
Startup incubator Betaworks says it will fold Digg into News.me mobile site.
Thu 12 Jul 12 from USA today