While the price has yet to be confirmed, the Wall Street Journal is reporting that Betawatch has an agreement to purchase Digg.com for $500,000. Founded by tech icon Kevin Rose, Digg.com was once an extremely popular social news aggregation site, where users could submit stories, which other users would either like or dislike, or “Digg” and “bury” respectively.
Back in 2006, Google tried to buy Digg for an estimated $200 million dollars, but the deal never happened. Since the site’s redesign in 2010, which many users hated, the site has lost traffic and subsequently, the value dropped. Even Rose left the company to pursue other interests. Sadly, none of Digg’s current employees will make the transfer to Betaworks, so looks like this deal was a domain and content purchase only. It’ll be interesting to see if Digg can survive the year. We’ll follow the story and see if the WSJ picks up any other details.
Source: Wall Street Journal