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Betaworks Buys

Rate this Entry was purchased by Betaworks last week and most of the story in the media was about the reported low price of $500,000. Since then, the sale price has not been disclosed but it is reportedly more than the $500,000 sale price initially rumored because of additional stock options in Betaworks. From [URL=""]MediaPost[/URL]: "In a post on Digg’s blog, CEO Matt Williams said Digg will be combined with Betaworks’ platform, which enables people to use iPads, iPhones and email to deliver stories shared by friends on Facebook and Twitter, a seemingly ignoble end for Digg, which preceded those social networks.“Believe it or not, it's been seven years since Digg launched. To date, we've had over 350 million Diggs, 28 million story submissions and 40 million comments. We're extremely proud to have helped pioneer social voting on the Web,” Williams wrote, adding that he was leaving to join VC Andreessen Horowitz as Entrepreneur in Residence. He is being replaced by Betaworks Founder John Borthwick."

Also see:

[URL=""]Buried: Digg Sells for $500,000
[URL=""]A Digg Power User’s Inside Take on the Rise and Fall of a Social Empire[/URL]



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