Last night we posted the news about Digg being sold – for $500,000 according to Wall Street Journal.
Many commentators wondered, how would this be possible, it can’t be true.
Sometimes, truth is so absurd that even when it hits us on the head, we deny it.
The fact remains that Betaworks bought Digg.com (the domain, code, data and all the traffic) for roughly $500k. The staff and other IP assets were bought by other companies for equity, stock and cash.
Betaworks will license IP assets and patents from those other buyers in order to further integrate Digg.com into their own services.
The top comment from the Digg post was made by Gnanes, who stated:
“It’s like buying a cow at a meat shop. Everyone got a piece of the Digg cow.”
And that’s what the industry looks like, right now – a meat market. Are you hooked yet?
