Digg sold for $500,000
Betaworks, a New York technology development firm that has had its eyes set on news distribution for some time, has purchased former social new powerhouse Digg.com for $500,000, sources close to the matter told the Wall Street Journal. Betaworks founder John Borthwick will be the new CEO of Digg.
“I’ve always been a fan of John’s product vision and the companies he builds, funds, and advises,” said Kevin Rose, co-founder of Digg. “John understands the real-time nature of the web and how to capture and surface trends as they occur. Given his experience with bit.ly, news.me, and Chartbeat I can’t wait to see what he does with Digg.”