“…The remains of social news sharing site Digg were bought by New York-based incubator Betaworks on Thursday. Betaworks would not comment on the price it paid for the once high flying tech company.
The incubator’s founder, John Borthwick, will be CEO of what will become a reconstituted Digg.
The Wall Street Journal reported a price tag of $500,000, which amounts to pennies on the $45 million in venture capital Digg raised over as six-year-period from Marc Andreessen, Ron Conway, and venture firm Greylock Partners.
Wired Gadget Lab writer Mat Honan summed it up in a tweet: “Digg just sold for .0005 Instagrams, or 1.25 Holopacs.”..”
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After Raising $45M, Digg Sells for Pennies on the Dollar | Wired Business | Wired.com.
