Digg, who earned $60 million in 18 months, was bought for $500 thousand

news sharing site Digg

news July 13th, was hailed as "the first social media website news sharing site Digg have fame, earned $60 million for 18 months, and now has $500 thousand acquisition, what

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, a Silicon Valley venture star fall. Founded in October 2004, has been hailed as the first social media site, news sharing site Digg was acquired by the New York technology company Betaworks for a mere $500 thousand. Why do you want to know, Digg had been in the hands of the hands of Marc Andreessen and LinkedIn founder of Reid, including $4 million 500 thousand from 2008, there are rumors that Google bid $200 million acquisition in.

in essence, Digg is a news voting and commentary site that combines blogs, bookmarks, RSS, and non hierarchical reviews. The difference between Digg and traditional news websites is that the editor of the website content depends on the average reader. Users can submit any articles to the Digg, if the reader believes that the article is good, you can on the page Digg look, enough popular, the article will appear on the Digg home page. Kristina, a research assistant professor at the University of Southern California, said: "it was the first social media site to launch a number of social functions, such as friends and Lerman."

unfortunately, strong competitors of this social media pioneer, Twitter and Facebook, the experience is not welcomed by the users of the revised several times after the user loss, by the end of 2010, Digg users fell over half. Not only the loss of users, the team also fall apart in March last year, the leadership, the founder of Digg Kevin Rose in Google Ventures to resign office. In May this year, "Washington Post" under the banner of the digital media subsidiary Social Code strong poaching, from the Digg engineering team poached 15 people, accounted for more than half of the total staff of Digg.

in contrast to the acquisition of Betaworks, Digg brand, website and technology will fall into the Betaworks bag, but the whereabouts of the remaining staff is not clear. Digg CEO Williams will join Andreessen Horowitz, to become a settled entrepreneur.

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2006, Digg founder Kevin Rose boarded the business week cover, when the cover reads: "this guy is how to earn $60 million in 18 months." Now look at the picture

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