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Digg gets sold for just $500,000

Written by Andre Yoskowitz @ 12 Jul 2012 9:01 User comments (2)

Digg gets sold for just $500,000

The once-popular social sharing site Digg has sold for just $500,000 this week.
Bought by Betaworks, the company had raised over $45 million since foundation, making it a huge loser for many investors.

A few of the more notable investors were Marc Andreessen, Ron Conway, and venture firm Greylock Partners.

Digg was once the go-to site for user-curated news, but was killed by sites like Reddit and even Twitter. Founder Kevin Rose, which made unpopular decisions at Digg that helped lead to its demise, saw the writing on the wall and left in 2011 to join Google.

Betaworks launched sites like Bit.ly and will use Digg to boost the tech for their latest startup, News.me, which is a daily news aggregator.

Tags: Digg Kevin Rose Reddit social sharing
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2 user comments

113.7.2012 11:56
zdamian
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Newbie

Looks like another dot-com couldn't recover from a hole that they helped "digg" themselves ....

214.7.2012 10:27
DADEO1
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Kevin Rose, missed the boat or sly as a fox?

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