Digg sold for $500,000

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D
igg, a once-popular social bookmarking site, has been acquired by BeatWorks, for a paltry sum of $500,000. The site has been slipping in popularity for a while, losing users to competion from Reddit, and Pinterest. Back in 2006, Digg was amongst the top 25 web sites visited in the U.S.


      According to ZDnet, Digg's fate started trning around in 2010,when a group, thhe Digg Patriots, was revealed to be attemting to censor crtain liberal compaigns, using multiple accounts to ban certain posts.

      Kevin Rose, Digg's co-founder, then apparently tried to reework the Digg voting system to remove the perceived potential for partiality. Unfortunately however, the Digg community felt the voting system was no longer in their hands to control, and left in drovers.

      By 2012, Digg barely had any staff to run it. According to a Wall Street Journal report on the matter, after the acquisition, no Digg will apparently be integrated into BetaWorks'news.me service, which will send news and other posts to users via mobile and email, from Facebook, Twitter and Digg feeds.

      Speaking about the acquisition, Matt Williams, Digg's CEO, said, "Digg has always been a site built by the community, for the community. Over the last few months, we have considered many options of where Digg could go, and frankly many of them could not live up to the reason Digg was invented in the first place - to discover the best stuff on the web. We wanted to find a way to take Digg back to its startup roots."

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Digg sold for $500,000