Digg just confirmed the news through an official blog post that they’ve been sold to Betaworks for just $500,000. Its really hard to believe that a company once valued at $200 million by Google just a few years ago could crumble down to just 0.0005 an Instagram (1 Instagram = $1 Billion).
One of the major reasons for the decline of Digg was its highly unpopular redesign back in 2006. Currently the website rakes in around 4.5 to 7 million unique visitors each month which they aim to improve after joining with their new parent company’s News.ME platform.
Do note that Digg’s employees though are not part of the deal.