Yesterday?s news that social media site Digg had been sold for $500K was both shocking, and not surprising at all. The news was somewhat expected at some point given the site?s steep decline in popularity and visitors over the past few years. It?s shocking because Digg used to be valued at close to $200M, and it goes to show that even giants of the web are vulnerable to complete and utter collapse.
Why did Digg die a slow and painful death? It depends on who you ask. In the wake of this news, nearly every major outlet credits Facebook and Twitter with delivering the killing blow. While both sites are large and have grown while Digg shrunk, to credit them with the destruction of the site is incorrect. Though both are technically ?social media? sites, neither truly replicated the functionality of Digg as a vote-based news stream. Only one other site did: Reddit.
Read more at Forbes
by Paul Tassi
Source: http://www.grepscience.com/archives/5913
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