Technology development firm Betaworks purchased Digg for just $500,000. Several companies were bidding for the news-sharing website, but Digg decided that Betaworks had the best plan for reviving its brand. Digg will be folded into News.me Inc., which sends news links to users based on what their Facebook and Twitter friends are reading. Founded in 2004, Digg had 30 million monthly visitors at its height, but it lost ground to Facebook, Twitter, and Reddit. As of May the website was getting closer to 7 million visitors per month.