ritu 1 Report post Posted July 14, 2012 Considered to be a giant news aggregator some time back,Digg has been going through a tough phase and eventually has been sold to Betaworks for a reportedly not so fascinating sum of money.Though the exact amount has not been made public,yet the Wall Street Journal estimated the amount to be a mere $500,000.A few years ago the worth of the organisation would have been around $200 million as estimated by Businessweek Magazine.Digg was founded in the year 2004 and rose to the zenith of popularity as people, by voting could literally dig out articles that were lying obscure on the internet.Through the course of years, the quality of Digg that once could be boasted upon, started to degrade as the voting and commenting systems started to lack credibility.Digg ventured to create a blunder,the site v4,but it wasn't technically sound enough to convince people and the response was full of hatred as much as the declaration of "Abandon Digg Day" and embracing the rival service, Reddit. Even after CEO Matt William's blog,the scenario showed no improvement.Betaworks, the organization now acquiring Digg, is the owner of the well known link shortener Bit.ly and analytics platform Chartbeat.The new plan for Digg, according ot Betaworks would be like starting it from the scratch with its own employees mostly from its wing News.me .Digg's co-founder Kevin Rose's venture Milk was acquired by Google for a sum of $15 million in the month of March.Source Share this post Link to post Share on other sites
