The twilight fell on one of the most promising Internet companies in recent years. Digg, the renowned news site, was acquired by Betaworks in exchange for an unspecified amount. Initially, rumors circulated that the transaction was made for just $ 500,000, but was denied by the CEO of Digg, Matt Williams.
While the executive did not disclose the actual figure, they said that is “significantly more important than the rumored” . The deal included not only cash but also actions. Betaworks reported Digg buying through an official blog post and announced plans for its glittering product: “We will turn back into a startup Digg. Low budget, small team, rapid cycling “. The intention of the managers is to leverage the staff and resources to merge with Digg News.me , a new social news site focused primarily on mobile platforms. “The team returned to Digg News.me to its essence: the best place to find, read and share stories relevant Internet” , said from Betaworks.Whatever the amount paid in exchange for its assets, it is still a little gloss finish with Digg. The company was launched in 2004 and reached its peak in 2006. It may have been acquired in 2008 by Google, which offered 200 million dollars. However vacuum fell in 2010 with the introduction of a new design prioritized sponsors stories .
With the departure of Kevin Rose, one of the founders, in 2011, deepened the wrong time of service. According to TechCrunch, the latest round of investment was on Digg last year and reached $ 5 million. With this amount the company could keep its doors open, but not enough to straighten the road.