digg logo Digg sells for just $500,000

Digg, once one of the internet's biggest social content voting sites, has been sold for a measly $500,000, highlighting the intense competition in the field.

Digg, once one of the internet's biggest social content voting sites, has been sold for a measly $500,000, highlighting the intense competition in the field.

 
Betaworks nabbed the website for the bargain sum, promising to turn it into a cloud-based platform, adding to its existing offerings, which include Bitly, SocialFlow and Bloglovin'.
 
“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,” said Matt Williams, CEO of Digg. “We wanted to find a way to take Digg back to its startup roots.”
 
digg Digg sells for just $500,000
 
Digg's fate was pretty much sealed after most of its staff left to join Social Code in May, leaving the company with a skeletal crew on which to operate. The low sale value reflects what little Digg now has to offer, both in terms of skilled engineers and a once popular, now quiet social content network.
 
Digg was established by Kevin Rose in 2004, long before most of today's popular social media sites even existed, allowing users to "digg" stories and content they liked and "bury" stuff they didn't. Its glory days are long gone, however, largely replaced by rival firms like Reddit, not to mention the tweeting of Twitter, +1'ing of Google+, and liking of Facebook.
 
Source: Reuters