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Once valued at $160M, Digg sells for $500K

by SteveJohnson
8 replies
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Bet Kevin Rose is feeling a little sick right about now...

Once a Social Media Star, Digg Sells for $500,000 to Betaworks - WSJ.com
  • Profile picture of the author TLTheLiberator
    You've got to get the gettings while the gettings good!
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    "It's easier to fool people than to convince them that they have been fooled. -- Mark Twain

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  • Profile picture of the author poleposition
    Isn't it crazy how quickly the Digg fad faded? Crazy how the price for this property fell like a brick.
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  • Profile picture of the author TrumpiaTim
    Wrong decisions, should've forecasted a bit better.
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    www.Trumpia.com

    Trumpia: The Most Completed SMS Text Messaging Software & API Solution.
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  • Profile picture of the author MoneyMagnetMagnate
    Digg Sold To LinkedIn AND The Washington Post And Betaworks | TechCrunch

    Sun Valley and self-driving cars aside, the story of the day today is that social news site Digg has sold its remaining assets for $500K to the NYC-based tech firm Betaworks. While that number is indeed in the ballpark, we’re hearing from multiple sources that the total price of the Digg acquisition was around $16 million, including the price paid for IP by a previously unreported acquirer, LinkedIn.

    But still only 1/10 of former valuation...
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  • Profile picture of the author Peter May
    Surely the buying price is a great deal, if nothing else for the subscribers.
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  • Profile picture of the author tmoby
    I don't see the valuation going up too much in the coming years, they could make their money back eventually, but I don't think it's capable of a comeback.
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  • Profile picture of the author flyviral
    That's unfortunate. I remember reading a few years back that Google was considering an acquisition for around $200m. That's why I sort of scratch my head at those start-ups who reject astronomical amounts of money to take the chance that they "might" become the next Google or Apple. Take the money. If you lose your user base or you're no longer the "cool/hip" site, that overinflated valuation will disappear as quick as it came in. Like, Groupon turned down $6 billion from Google. Twitter turned down $10 billion. That's a little crazy to me.
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  • Profile picture of the author JustinDupre
    Well, at least they sold it for half a million dollars.
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