Digg has been bought by New York technology investment firm Betaworks, a move that marries the news-sharing website with a daily briefing service that sends users links to top stories shared on their social networks.
Betaworks bought Digg for just US$500,000, the BBC reported.
Betaworks bought Digg for just US$500,000, the BBC reported.
Founded in 2004, Digg allows users to collect and vote on news content. Then, the most
prominent news is promoted to the top of the site's homepage. However, most
of the time this was decided by a hundred so-called "power users," according
to PC World. In early 2010, Digg's popularity fell due to the
popularity of Facebook and Twitter, as users preferred reading articles shared
by their friends.
Betaworks launched News.me in April 2011. The daily briefing service sends users links to top stories their friends share on Facebook and Twitter. News.me uses an iPad app, iPhone app and daily e-mail newsletter.
Betaworks launched News.me in April 2011. The daily briefing service sends users links to top stories their friends share on Facebook and Twitter. News.me uses an iPad app, iPhone app and daily e-mail newsletter.
"Digg has always been a
site built by the community, for the community," wrote
Digg CEO Matt Williams on a post. "Betaworks is combining Digg
with News.me. Digg will join a portfolio of products developed by Betaworks
designed to improve the way people find and talk about the news," he
added.
According to VentureBeat,
Digg’s
underlying technology wasn’t very valuable in comparison to what other news
aggregation services were doing. Digg raised $45 million in funds from
investors, The
Wall Street Journal reported.
Betaworks CEO John Borthwick will become Digg's new chief.
Image: soshable.com
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