Digg, Once Valued at $200 Million, Sold for $500,000

  • metta

    Posts: 39155

    Jul 13, 2012 1:19 AM GMT
    Digg, Once Valued at $200 Million, Sold for $500,000

    http://digg.com/newsbar/story/digg_once_valued_at_200_million_sold_for_500_000
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    Jul 13, 2012 6:51 AM GMT
    Everything is a bubble.

    Everything.
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    Jul 13, 2012 6:52 AM GMT
    Still sold for too much.
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    Jul 13, 2012 7:02 AM GMT
    Elusium saidEverything is a bubble.

    Everything.
    Even butts?
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    Jul 13, 2012 7:50 AM GMT
    Facebook could be next!
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    Jul 13, 2012 7:53 AM GMT
    sad say, digg used to have a great community. Now reddit seems to be picking up where digg couldn't.
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    Jul 13, 2012 12:18 PM GMT
    Wrong. Digg sold for closer to $16 million - though it's still a big fall from the valuation at their peak - but this is also a reflection of their loss in share and how reddit has overtaken them.

    http://techcrunch.com/2012/07/12/digg-sold-to-linkedin-and-the-washington-post-and-betaworks/

    Sun Valley and self-driving cars aside, the story of the day today is that social news site Digg has sold its remaining assets for $500K to the NYC-based tech firm Betaworks. While that number is indeed in the ballpark, we’re hearing from multiple sources that the total price of the Digg acquisition was around $16 million, including the price paid for IP by a previously unreported acquirer, LinkedIn.

    According to a familiar source, the Washington Post ended up paying $12 million for the Digg team. Around the same time, career social network LinkedIn paid between $3.75 million and $4 million for around 15 different Digg patents including the patent on “click a button to vote up a story.”

    Betaworks picked up all the remaining assets today, including the domain, code, data and all the traffic for between $500k and $725k. We’re hearing that Borthwick and co. will license from LinkedIn whatever patents it needs to execute on what it chooses to do with those assets. I have no word on how the “single-digit millions equity deal” some are reporting fits in here exactly.

    Pre-acquisition, social news vanguard Digg had raised $45 million in funding from Greylock Partners, Marc Andreessen, LinkedIn founder Reid Hoffman and other Valley notables. Digg was an extremely influential site for anyone who worked in the early era of online publishing, so it being scrapped for parts is sort of weird, especially for those of us who used to beg friends to vote up Digg stories.
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    Jul 13, 2012 12:26 PM GMT
    yourname2000 said
    metta8 saidDigg, Once Valued at $200 Million, Sold for $500,000

    http://digg.com/newsbar/story/digg_once_valued_at_200_million_sold_for_500_000

    God, I used to watch Kevin Rose on TechTV on G4.....so unbearably cute, in an adorably nerdy way. [sigh]

    kevin-rose-co-founder-of-milk-inc-and-di


    Ahh yes I remember when Tech tv was a cool channel with cool programs such as " call for help" and" the screensavers". Once G4 got a hold of it however it all went to poo and I haven't watched since prob 2004. memoriesicon_sad.gif
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    Jul 13, 2012 12:29 PM GMT
    2006:
    kevin-rose-bw-cover-o.jpg

    2012:
    kevin-rose-digg-cover-edit.jpg