Digg Sells For Half A Million Dollars

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Digg, the site that turned down $200M from Google in 2008, just sold for $500,000. Ouch! :eek:

Under the deal, which Digg confirmed closed Thursday, Betaworks is buying the Digg brand, website and technology. The price was just $500,000, three people familiar with the matter said—a pittance for a company that raised $45 million from prominent investors including LinkedIn founder Reid Hoffman and Marc Andreessen.
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Digg used to be relevant, then it really fucked up and changed too much and then I stopped going. Used to be a good resource for news. Not anymore.
 
David Prager has said many times (most recently on twit) that they never received an offer to sell Digg that didn't include Revision3 in the price.
 
Haven't been to Digg for almost five years, and only went there for a little while because someone else in the office read their stuff.
 
So if they sold Digg for half a million...do you think that when they sell Dug, it will get them another half million?
Dig_dug.jpg
 
Google offered Kevin Rose (and company) an estimated $200 mil for Digg a few years back. My how the mighty have fallen.
 
I've found that in the majority of circumstances, if someone offers $200 mil for my product I should take the offer.
 
Kevin Rose is a dumb ass for not selling at $200 Million when offered. Now Kevin Rose works for Google as a regular employee lol..

Karma surely is a bitch.
 
the-one1 said:
I see Groupon and FB down this road very soon.
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HIGHLY doubt it. Groupon will fall in value but the most used social network in the world with almost 1 Billion users? That's a giant group to market to and micro-transact from. Facebook will never be worth only $500,000 I really doubt it'll go the way of Myspace and Friendster.
 
Godmachine said:
Kevin Rose is a dumb ass for not selling at $200 Million when offered. Now Kevin Rose works for Google as a regular employee lol..

Karma surely is a bitch.
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Does it suck? Yes. But Kevin is more than set for life. According to CelebrityNetWorth.com he's estimated to be worth around $10 million. Sure that's not as good as $200 million...but damn good enough!

Still stupid though, but I can see his thought process...image if Zuckerberg had sold when Facebook started!
 
i hate it.

i sure hate it.
i miss the glory days, i miss diggnation, i miss the oldschool revision3

so sad to see it all gone, in which its been gone for a while and forgotten.
dunno whether to throw my digg shirts away or keep them... :(
 
When Google offers to buy you, you do it. Especially at $200 Million. You're one self-obsessed prick to think a social news site would be worth much more than that. You have to offer people to share pics of themselves in the mirror in photo albums on their walls before you start talking about that kind of money.

Regardless, it's just LOL.
I stopped going after the BluRay encryption fiasco when it turned out that Digg was censoring articles. I as well had forgotten it existed until now.
 
Godmachine said:
HIGHLY doubt it. Groupon will fall in value but the most used social network in the world with almost 1 Billion users? That's a giant group to market to and micro-transact from. Facebook will never be worth only $500,000 I really doubt it'll go the way of Myspace and Friendster.
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yes, FB is making some money, but I doubt their advertising works very well. 1 billion "users and bots and duplicate accounts" doesn't mean shit when they are oblivious or resistant to advertising thrown at them.


TheGamerZ said:
One could only hope. Unfortunately, I think Facebook is here to stay for a while.
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yeah, FB is trying hard as fuck to stay relevant, latching onto websites with Like buttons and soon2be Want buttons.
 
I used to visit Digg daily but with all the asanine site redesigns plus a community that was full of complete douchebags I say good riddance.
 
Yeah he missed out with Google. But you forget he just sold Revision3 to Discovery Networks for something like 40million. So he's not exactly hurting.
 
I really liked Digg back in the day but when they made the big changes the site was terrible. People can be so damn greedy sometimes.
 
If Google makes you an offer, chances are it's the best offer you'll ever get and you should take it. Sucks to be Digg and Groupon.
 
Didn't digg have some conspiracy come about involving politics and burying articles if thee opposition.
 
It's funny how all the redesigns of digg stopped after the version that drove everyone away (and I still to this day can't believe they did not keep a copy of the previous version backed up)
 
Trimlock said:
Didn't digg have some conspiracy come about involving politics and burying articles if thee opposition.
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Digg Patriots, right-wing blowhards who like oh so many see everything as a liberal conspiracy and are against any freedom of speech (other than their own of course).

Digg's failure to ban the whole lot of them and suspend their followers was just a precursor to the end.

What killed them though was one of the most hare-brained redesigns ever. Taking a social media site and explicitly redesigning it to skew things so that traditional (read: corporate conglomerate) media outlets would get higher billing? I'm just not sure how anyone could have seen that as anything but a bad idea, but presumably a lot of money was involved.

The fact that it used way more vertical screen space and added stupidly wide margins around the actual content while everything was going to widescreen just added insult to injury.
 
Runningflame570 said:
Digg Patriots, right-wing blowhards who like oh so many see everything as a liberal conspiracy and are against any freedom of speech (other than their own of course).

Digg's failure to ban the whole lot of them and suspend their followers was just a precursor to the end.

What killed them though was one of the most hare-brained redesigns ever. Taking a social media site and explicitly redesigning it to skew things so that traditional (read: corporate conglomerate) media outlets would get higher billing? I'm just not sure how anyone could have seen that as anything but a bad idea, but presumably a lot of money was involved.

The fact that it used way more vertical screen space and added stupidly wide margins around the actual content while everything was going to widescreen just added insult to injury.
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Gotcha! I knew digg dugg their own hole, I just didn't remember when/how as after [H] dropped then I too forgot about them.
 
Who wrote this article?


Facebook didn't become popular until 2010?

Pretty much everyone I know had joined by early 2005...
 
Zarathustra[H];1038931421 said:
Who wrote this article?


Facebook didn't become popular until 2010?

Pretty much everyone I know had joined by early 2005...
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Probably when "The Social Network" hit the big screen.
 
No sympathy for them short of hating to see people losing their jobs. They got way too greedy back in the day and turned their noses up over a $200 mil offer.
 
Zarathustra[H];1038931421 said:
Who wrote this article?


Facebook didn't become popular until 2010?

Pretty much everyone I know had joined by early 2005...
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Were you in college back then? Correct me if I'm wrong but in 2005 Facebook was still just networked between universities and didn't expand to high schools/general public until later than 2005.
 
JoeUser said:
Still stupid though, but I can see his thought process...image if Zuckerberg had sold when Facebook started!
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The same thought process college sports players use when signing up for bowling and TV classes I bet... Cause they all are going to make it to the Pros...

Yeah I can see it too, still makes it a dumb ass process unless you win the "lottery" of business. The success of Facebook probably had a million of causes, remove a few and MySpace would still be king.
 
Should clarify, most of business is not a "lottery" per se but a Facebook success story does have a lot of luck involved.

Don't mean to step of hard working business owners, I know its a tough road.
 
Godmachine said:
Kevin Rose is a dumb ass for not selling at $200 Million when offered. Now Kevin Rose works for Google as a regular employee lol..

Karma surely is a bitch.
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The take home after the government gets it's dirty dick beaters all over it is probably more with this offer than the 200 mil :(
 
Nicterys said:
Were you in college back then? Correct me if I'm wrong but in 2005 Facebook was still just networked between universities and didn't expand to high schools/general public until later than 2005.
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Feels funny for people to refer to 2005 as "back then". It just happened for crying out loud :p

I graduated college in 2003. When Facebook expanded to Umass in 2004 some time all alumni email addresses were allowed to sign up as well.
 
mope54 said:
The take home after the government gets it's dirty dick beaters all over it is probably more with this offer than the 200 mil :(
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oh boy cute... We all know the tax rate for the super rich is 99.75%? Those taxing thieving bastards!!!!!! Distributing our wealth.

Oh wait, the highest federal tax bracket (for income) is 35%, which would mean his take home of 200mil would be 130 mil..

Last I checked 130mil > 500k

Never mind he could have gotten paid in stock and then sold it, being taxed for only what 15% capital gains tax???? (Don't know if this is legal or possible or not).

Hey I understand complaining about high taxes, at least be close when you exaggerate.
 
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