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Digg Sold for a Measly Sum & Grabbed by Betaworks

It is just astonishing that a successful site like Digg has been sold at such a low valuation to Betaworks. To be honest we are shocked to learn that it has gone under the hammer for just $500,000. At this price we would have had just love to buy it. Digg was once hailed as the future of the internet and is a known site worldwide.

So, gone are the days of hefty valuations where it was valued worth upwards of $200 million. Digg is a successful site and was launched in year 2004 and has received more than $45 million in investor funds.

On it’s blow Betaworks says Digg will fold into the News(dot)me team. Betaworks also promises to “turn Digg back into a startup. Low budget, small team, fast cycles.”

News of the sale was also made by Digg CEO Matt Williams who told the Digg community that Betaworks would still unveil a new cloud-based version of Digg that would work to complement News(dot)me options

Now we look at the reasons which has led to the downfall of the Digg and its reasons are as appended below:

  • Digg v4 is the reason which has led to its fall.
  • Criticised by users and most loyal users shifted as it was confusing.

To be honest we feel sad at the actual owner selling a successful site at such a low price and it proves only one thing that nothing is permanent in this world and perceptions keep changing.

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