Boulder Weekly on Facebook Boulder Weekly on Twitter Boulder Weekly on Tumblr Boulder Weekly's RSS feed Email Contact

Find Local Events (pick a date)
 
Browse Boulder real estate by neighborhood, school and zip code along with other homes for sale in Colorado on COhomefinder.com
Browse Boulder real estate by neighborhood, school and zip code along with other homes for sale in Colorado on COhomefinder.com.

 

 

 

 

 

 

 
Home / Articles / News / Tech Today /  Digg, Once Worth $164 Million, Sold To Betaworks For $500K
. . . . . . .
Give Through iGivefirst
Friday, July 13,2012

Digg, Once Worth $164 Million, Sold To Betaworks For $500K

Good news, MySpace: You’ve just been eclipsed as the biggest bust of the social media era.

Digg, only a couple years ago the most popular social news site around, has been sold to Betaworks for $500,000, reports The Wall Street Journal. Its last round of funding, in 2008, valued the company at $164 million.

That means that Digg managed to lose more than 99% of its value in four years for its investors, a group that included Marc Andreesen, Reid Hoffman, Highland Capital Partners and Silicon Valley Bank. [Update: TechCrunch's Alexia Tsotsis makes a good point: When you add in the money Digg made for selling its engineers to the Washington Post Co. and its patents to LinkedIn, you could argue that the real sale price was $16 million.]

Read more...

  • Currently 3.5/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
POST A COMMENT
No Registration Required
 
Close
Close