Digg Sells Itself for Pathetic Pocketchange: $500,000

New York technology development firm Betaworks has agreed to buy news-sharing website Digg, in an attempt to revive a company that was early to social media but outmaneuvered by rivals like Facebook Inc. and Twitter Inc. In 2008, it turned down two hundred million and today it sold for $500,000! How the mighty have fallen!

Which one of you rascals just bought Digg! The company, clearly in need of some new cushions for the company cafeteria, just sold itself for a mere half a million dollars.

The site, which once carried the massive internet clout of Reddit—able to make or break (literally) entire websites with its gigantic traffic tsunamis—was just acquired for less than it costs to buy a tiny apartment in New York. The Wall Street Journal reports that the “New York technology development firm Betaworks,” which ” intends to fold Digg into News.me Inc. a digital media startup that Betaworks launched in April 2011.” Considering nobody knows what the hell News.me is, this is goodbye for Digg. Bye, Digg! You’ll long remind us of the late 2000s, when Rihanna first captured our hearts, and you were worth actual money.

via Gizmodo