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Once a Social Media Star, Digg Sells for $500,000

By Dan8267   Follow   Sat, 14 Jul 2012, 6:40pm   831 views   9 comments
In Boca Raton FL 33433   Watch (1)   Share   Quote   Permalink   Like (1)   Dislike  

Next up, Facebook.

http://online.wsj.com/article/SB10001424052702304373804577523181002565776.html

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1. Patrick Follow Befriend (54) 5,188 threads 6,157 comments 46 male Menlo Park, CA

   1   7:50pm Sat 14 Jul 2012   Share   Quote   Permalink   Like   Dislike   still has a well known brand and sizable audience of more than 7 million visitors per month as of May This just doesn't make sense. 7 million visitors per month are worth way more than $500K no matter how you cut it.

2. thunderlips11 Follow Befriend (13) 51 threads 2,636 comments Premium

   2   10:02am Wed 18 Jul 2012   Share   Quote   Permalink   Like   Dislike   Looks like the owners got warrants. It could also be that the VC company owns both an is merging them. There's got to be some inside stuff going on.

3. PockyClipsNow Follow Befriend 19 threads 1,534 comments Los Angeles, CA

   3   10:04am Wed 18 Jul 2012   Share   Quote   Permalink   Like   Dislike   maybe they ran up huge debts?

4. thomaswong.1986 Follow Befriend 15 threads 2,839 comments

   4   8:22pm Wed 18 Jul 2012   Share   Quote   Permalink   Like   Dislike   Patrick says This just doesn't make sense. 7 million visitors per month are worth way more than $500K no matter how you cut it. lol! you programmers need to get a business degree.. when the bottom line doesnt show a profit and positive cash flow.. NO FUCKING 7 or 10 million users will save your asses...

5. Dan8267 Follow Befriend (16) 763 threads 7,706 comments Boca Raton, FL Premium

   5   8:49pm Thu 19 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike   thomaswong.1986 says lol! you programmers need to get a business degree.. Two words: ad revenue. There's a reason Google is the #1 company in the world.

6. Patrick Follow Befriend (54) 5,188 threads 6,157 comments 46 male Menlo Park, CA

   6   9:04pm Thu 19 Jul 2012   Share   Quote   Permalink   Like   Dislike   Dan8267 says There's a reason Google is the #1 company in the world. Actually, by market capitalization, I think Apple is #1. But yes, the Google ad revenue alone from a 7M viewer site would make it worth far more than $500K.

7. PockyClipsNow Follow Befriend 19 threads 1,534 comments Los Angeles, CA

   7   10:59pm Thu 19 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike   http://www.webpronews.com/digg-parted-out-sold-for-significantly-more-than-500000-report-2012-07 Digg Parted Out, Sold For Significantly More Than $500,000 [REPORT] Late yesterday, we told you that once-popular link aggregation site Digg had been sold to Betaworks, the company behind bit.ly, news.me, and Chartbeat. Considering Digg’s massive decline over the past few years, news of it selling wasn’t too shocking. But the price was – a paltry $500,000. To put that in perspective, Facebook just bought Instagram for $1 billion. Seriously, $500,000 is embarrassingly low. But there may be more to the Digg story. Sources tell Tech Crunch that Digg’s sale price was actually closer to $16 million – a huge jump from the half a million we were told. They say that Betaworks did pick up Digg’s remaining assets for somewhere between $500,000 and $725,000. But that’s only after two other players payed substantially more for other parts of the company. Apparently, the Washington Post payed around $12 million for the Digg team. LinkedIn also joined the party, picking up a handful of Digg patents for around $4 million. If correct, this is better news for Digg – but it’s still not great news. Once mighty and valued at nearly triple what they were reportedly bought for, it’s kind of sad to see Digg ripped apart and parted off like a beat up car. I guess it just shows the importance of striking while the iron is hot.

8. Patrick Follow Befriend (54) 5,188 threads 6,157 comments 46 male Menlo Park, CA

   8   8:56am Fri 20 Jul 2012   Share   Quote   Permalink   Like   Dislike   Ah, that makes more sense.

9. PockyClipsNow Follow Befriend 19 threads 1,534 comments Los Angeles, CA

   9   9:59am Fri 20 Jul 2012   Share   Quote   Permalink   Like   Dislike   $12m for the 'Digg team' sounds fishy. Patrick you should sell off the 'Patrick.net team'!!!!!