Friday, July 13, 2012 sold for 500k sold to Betaworks

Many of us have red the news about social media bookmark site sale. This site, once forth of millions has sold for merely 500k... 
Here is the bottom line:
"Today marks the next stage in Digg's future.
Believe it or not, it's been seven years since Digg launched. To date, we've had over 350M Diggs, 28M Story Submissions and 40M Comments. We're extremely proud to have helped pioneer social voting on the web.
Digg has always been a site built by the community, for the community. 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.
We couldn't be happier to announce that the next generation of Digg will live on with the team from Betaworks. Betaworks is combining Digg with, a Betaworks company with an iPad app, iPhone app and daily email that delivers the best stories shared by your friends on Facebook and Twitter. Digg will join a portfolio of products developed by Betaworks designed to improve the way people find and talk about the news. Betaworks founder John Borthwick will be the CEO of the new Digg"
Long time Digg user writes:
"I just flashed back to when I first joined Digg WAY back in the day. I was an incredibly active user (a top 50 digger at one time). Eventually the whole site became WAY too spammy. That was the biggest problem (I still get spammed by folks "hey bro - can you digg this"). Digg may eventually be forgotten in the history of the web - but for me personally it was an eye opening moment - before Twitter/Facebook and the full blast of Web 2.0 - early adopters were on Digg and it paved the way"
"betaworks has acquired the core assets of Digg. Digg is one of the great internet brands, and it has meant a great deal to millions of users over the years. It was a pioneer in community-driven news.
We are turning Digg back into a startup. Low budget, small team, fast cycles.
How?  We have spent the last 18 months building as a mobile-first social news experience. The team will take Digg back to its essence: the best place to find, read and share the stories the internet is talking about. Right now.
We are going to build Digg for 2012.  More to come…"

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