Betaworks Acquires Digg For Just $500,000

Get this, Digg, sold itself to Betaworks for $500,000, that’s half a million. Betaworks is the company behind bit.ly, news.me, ChartBeat and others. Digg is the social news site like many others which was offered a hefty amount of 200 million in 2009 which it turned down.

Betawork’s founder John Barthwick will become the new CEO of Digg. Betaworks promises to turn Digg “back into a startup,” with a low budgets, small team and fast update cycles. The Digg team will be led by the current News.me team, it seems.

” Betaworks says it’s planning to “build Digg for 2012.”

The Washington Post had hired 15 of Digg’s site’s engineers to power its own social products earlier this year. It was pretty clear back then that it will sooner or later be acquired.