DIGG NOT Acquired For $500k . The Sale Price Is Not Disclosed!

@thebigk • Oct 24, 2024

Oct 24, 2024

1.1K

Rumors are spreading on the Internet that the popular news aggregation website, DIGG (which was the darling of web and publishers in the last decade) has been acquired by meager $500,000 by the news.me team. Thought the news about acquisition, first reported by the WSJ folks is true; the price mentioned is grossly inaccurate.

If you look at the traffic Digg attracts even today, they can easily make much more than $500k / year only by selling the advertisements on their website. So the acquisition price will be much more than that.

By the way, do we have any digg users here? What's your opinion on the acquisition?

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Anil Jain

@CrazyBoy • Jul 13, 2012

Seems like you had quoted the correct figure on paper for the aquisition.
However, along with the quoted amount, NEWS is that each DIGG stake holder is paid hefty amount, single digit (in million) and some good equity stake in Beta Works.

DIGG was recently values as $170,000 in 2009, and then google made the first bid of $200,000 3 years back.

-CB

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Anil Jain

@CrazyBoy • Jul 13, 2012

Figures that's now coming out is ranging between $500,000 or $800,00; but if we count all the money spent for patents, and hefty payment made to 16 stake holders of DIGG would cost around $18 million to the Beta works. This figures justifies a bit to the Image of DIGG!

Still there are no official words about it from DIGG or Beta works ! Any DIGG! or Beta Works users on the forum that can confirmed the same??

-CB

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Kaustubh Katdare

@thebigk • Jul 13, 2012

Well, if they really sold it for $500k; I'd congratulate the buyer. Digg is ~191 on Alexa! They can easily make about a million by selling their inventory.

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