|Digg -Social Media|
Thursday, 12 July 2012
Social media giant Digg is sold out to Betaworks.
New York tech incubator Betaworks acquired the website Digg on Thursday in a deal that included the remaining brand assets, a humble close to what was once a celebrated online property that heralded the social media era.
This reports that Betaworks does not plan to retain any of Digg's current employees.
"Over the last few months, we've considered many options of where Digg could go," writes Digg CEO Matt Williams, "and frankly many of them could not live up to the reason Digg was invented in the first place – to discover the best stuff on the web.
It Will also effect the online internet marketing services which is done on Digg.
Digg, the declining Web content aggregator, sold for $500000.The company raised a total of $45 million in funding from established venture capital firms like Greylock Partners. In 2006, Rose starred on a well-known BusinessWeek magazine cover, flashing his thumbs next to the headline: "How This Kid Made $60 ...Internet media firm buys faded social news site Digg Deccan Chronicleall 142 news articles