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POCKET CHANGE

Digg Sells for $500,000

Onetime Internet pioneer goes for pennies.

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A pioneering website that met its match in Twitter and Facebook, Digg has been sold for half a million dollars, sources said. The company was once close to establishing itself among the giants of social media, reaching a peak valuation of more than $160 million and raising $45 million from big-name Internet investors. That all seems to be well in the past, however, with the company confirming Thursday that it had sold its brand and website to Betaworks, a technology-development firm. Half of the company’s staff was picked up by the Washington Post Co. earlier this year.

Read it at The Wall Street Journal

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