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Digg Soldout For Just $500k!

Digg, a social website established back in 2004. It right away started leading the new introduced and preferred ‘Web 2.0’ trend for websites that lets users to upload, share their own contents and access the contents of others. Digg was doing great in the start and at one time, it was valued $160 million! However with the rise of Facebook and other social networking sites like twitter, its turn down started.

Now a New York based technology development company named Betaworks bought the Digg for nearly half a million dollars. However the reports of Wall Street Journal, the Betaworks doesn’t plan on retaining any staff. According to other reports, Digg received way higher bids but had many alternatives but it was sold-out to Betaworks because it has “the best reviving plan for Digg”.

The Washington Post apparently has paid $12m to get the Digg team and the social business-centric networking site is said to have paid $4m for a Digg copyright package.

Matt Williams, Digg’s current chief executive said “Over the last few months, we’ve considered many options of where Digg could go and frankly many of them could not live up to the reason Digg was invented in the first place – to discover the best stuff on the web. We wanted to find a way to take Digg back to its startup roots.” He further added “Coming soon, Betaworks will unveil a new cloud-based version of Digg to complement the current News.me iPhone and iPad apps. Stay tuned.” So let’s wait and the Betawork ‘revive’ the service.
Source slashgear
Photo Courtesy of ali
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