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Digg Sells Itself for Pathetic Pocketchange: $500,000

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+Frank B.    7,104

Digg Sells Itself for Pathetic Pocketchange: $500,000

Which one of you rascals just bought Digg! The company, clearly in need of some new cushions for the company cafeteria, just sold itself for a mere half a million dollars. In 2008, it turned down two hundred million.

The site, which once carried the massive internet clout of Reddit?able to make or break (literally) entire websites with its gigantic traffic tsunamis?was just acquired for less than it costs to buy a tiny apartment in New York. The Wall Street Journal reports that the "New York technology development firm Betaworks," which " intends to fold Digg into News.me Inc. a digital media startup that Betaworks launched in April 2011." Considering nobody knows what the hell News.me is, this is goodbye for Digg. Bye, Digg! You'll long remind us of the late 2000s, when Rihanna first captured our hearts, and you were worth actual money.

Source: Gizmodo

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Nomad_    87

Digg Is not worth the $500,000

  • Like 6

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ahhell    1,306

AHAHAHAHAHA

There's a good example of the stupidest management team of all time.

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Timan    554

Digg Is not worth the $500,000

Site still gets insane amounts of traffic.

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Navan    21

Wow. Down from 200 to just half a million. Man, that's gotta hurt so bad.

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Eternal Tempest    532

Remember, another company acquire all the tech team that made digg, the only thing now is a shell.

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kalkal    399

It's not surprising considering even the top story at the moment currently has less than 300 diggs.

Does reddit have the same issue that digg had with "power users"?

What made digg worse imo is that it actually promoted a system that allowed a few users to dominate the site.

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Miuku.    364

Even at a dollar, it would still be better than Reddit - at least it doesn't look like it was designed in 1985.

  • Like 4

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dr_crabman    68

digg? I remember that I visited them frequently in... 2005? But it got worse and worse even before the now infamous big redesign and I jumped ship to reddit. As did almost everyone it seems. Can't say I feel sorry for them, if Kevin Rose was representative it went from quite charming and funny to douchebag-central very fast.

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ccoltmanm    131

Site still gets insane amounts of traffic.

No, it doesn't. I stopped going when it went super liberal. Every posting was a bashing of Republicans.

graph?w=400&h=220&o=f&c=1&y=t&b=ffffff&n=666666&r=2y&u=digg.com&

graph?w=400&h=220&o=f&c=1&y=r&b=ffffff&n=666666&r=2y&u=digg.com&

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Hum    6,930

Well, I had a few bucks laying around ... :shifty:

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The King of GnG    181

So long, digg, and thanks for all... Whatever...

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kalkal    399

Would Digg have stayed stronger if it stayed tech only?

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Detection    2,256

I'd have hung onto it and tried my damnedest to pull it back to as close to $200m as I could

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Charisma    2,388

I'd have hung onto it and tried my damnedest to pull it back to as close to $200m as I could

Yeah, I don't think that was ever going to happen.

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kalkal    399

Yeah, I don't think that was ever going to happen.

Having said that, it's not as though they've really tried to do anything to get people back using the site. It's been as is for ages now.

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Charisma    2,388

Having said that, it's not as though they've really tried to do anything to get people back using the site. It's been as is for ages now.

True. You'd think even a little effort would have brought it up to more than $500K.

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Rudy    457

That's $500,000 too much :/

  • Like 1

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Glassed Silver    940

Wouldn't even want it for nothing roflmao...

Just like Myspace...

Don't buy a sinking ship, because whatever you pay for it, you won't ever get it back, the money slowly sinks to the ground of the wild sea of realities...

Glassed Silver:mac

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123456789A    4,709

Digg used to be pretty neat, then it got taken over by a bunch of political extremists. I stopped going there, but didn't know it basically died since then.

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Growled    3,880

No, it doesn't. I stopped going when it went super liberal. Every posting was a bashing of Republicans.

Sounds like another site I know. :p

Digg is not worth even what it sold for.

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The King of GnG    181

Digg used to be pretty neat, then it got taken over by a bunch of political extremists. I stopped going there, but didn't know it basically died since then.

OMG, you killed Digg! :-P

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Boz    1,325

It wasn't sold for $500k.. it was sold for $12 million.

Just fyi. It was sold to 3 companies. Betaworks paid $500k but that was only a part of it.

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Buio    21

It wasn't sold for $500k.. it was sold for $12 million.

Just fyi. It was sold to 3 companies. Betaworks paid $500k but that was only a part of it.

From the WSJ article

Digg confirmed Thursday it sold its brand, website and technology to Betaworks.

and

Digg received higher offers from bidders that included technology and publishing companies and start-ups but ultimately decided Betaworks had the best plan for reviving its brand, these people said.

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Steve B.    466

Topic closed due to inaccuracies with the initial article.

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