Security Experts:

Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Management & Strategy

Digg Sold for 0.0005 Instagrams

Taking a break form the normal spin-cycle of security news, assets from the once popular Digg.com have been sold for $500,000, or 0.0005 Instagrams (Instagram was purchased by Facebook for a cool $1 billion earlier this year).

At one point, Digg was valued at $175,000,000, but the shift to sites like Reddit (Digg’s longtime Web rival) and Twitter as an instant news source eventually caused the site’s decline.

Taking a break form the normal spin-cycle of security news, assets from the once popular Digg.com have been sold for $500,000, or 0.0005 Instagrams (Instagram was purchased by Facebook for a cool $1 billion earlier this year).

At one point, Digg was valued at $175,000,000, but the shift to sites like Reddit (Digg’s longtime Web rival) and Twitter as an instant news source eventually caused the site’s decline.

Digg SoldDespite its decline, Digg still gets more than 16 million monthly visitors. In a statement, the company who purchased the last of Digg’s assets, Betaworks, said that it is one of the greatest Internet brands, “and it has meant a great deal to millions of users over the years. It was a pioneer in community-driven news.”

“We are turning Digg back into a startup,” a blog post explained. “Low budget, small team, fast cycles. How? We have spent the last 18 months building News.me as a mobile-first social news experience. The News.me team will take Digg back to its essence: the best place to find, read and share the stories the internet is talking about. Right now.” 

All Things D has more on the deal, including the fact that 0.0005 Instagrams might be a bit low, as the deal wasn’t just cash only. In addition, TechCrunch says that the deal was likely worth some $16 million – and that LinkedIn, Betaworks, and the Washington Post all took a piece of the action.

This article’s headline was swiped from Twitter, and written by Jeff Jarmoc (@jjarmoc) who kindly allowed us to steal it. Thanks, Jeff!

Written By

Click to comment

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Management & Strategy

Industry professionals comment on the recent disruption of the Hive ransomware operation and its hacking by law enforcement.

Management & Strategy

Tens of cybersecurity companies have announced cutting staff over the past year, in some cases significant portions of their global workforce.

Management & Strategy

SecurityWeek examines how a layoff-induced influx of experienced professionals into the job seeker market is affecting or might affect, the skills gap and recruitment...

Funding/M&A

Twenty-one cybersecurity-related M&A deals were announced in December 2022.

Management & Strategy

Microsoft making a multiyear, multibillion dollar investment in the artificial intelligence startup OpenAI, maker of ChatGPT and other tools.