Digg, once one of the shining stars of the social media world, is now a sad shell of of its former self. The once mighty news-sharing service founded by Kevin Rose, has just been snatched up by a small New York City firm called Betaworks for a paltry $500,000, according to the Wall Street Journal. The site still draws roughly seven million visitors a month, but that's a far cry from the more than 30 million is was pulling in during its 2008 heyday. And the pocket change paid for the property pales in comparison to the over $45 million it raised from investors over its lifetime.
Engadget , WSJ: Sinking social news site Digg bought for $500k by NYC firm Betaworks, WSJ: Sinking social news site Digg bought for $500k by NYC firm Betaworks
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