Updated: Betaworks Acquires Digg (For Significantly More Than $500K)

Betaworks, the company behind bit.ly, news.me, Chartbeat and a number of other successful products, has acquired the social news site Digg.com for an undisclosed amount (rumor has it that the price was just $500k). Betaworks' founder John Borthwick will become the new CEO of Digg. The site's current CEO Matt Williams will join Andreessen Horowitz as Entrepreneur in Residence after the Betaworks transition is complete. Digg's founder Kevin Rose joined Google a few months ago after the search engine acquired his latest startup Milk.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/TMs1VN4a-V8/

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