Greed personified!
Posted on 07/14/2012 6:26:25 PM PDT by rawhide
In 2008, Google reportedly offered to purchase the popular Digg service for $200million.
But yesterday, the service was picked up for a relatively humble £500,000, a small price for what was once the celebrated internet darling which signalled the start of social sharing and social media.
New York tech 'incubator' Betaworks Digg on Thursday in a deal that included the remaining brand assets.
Launched in 2004 by then 27-year old Kevin Rose, Digg rose to prominence as an aggregator of online content, becoming at one point one of the more highly-trafficked stops on the Internet.
(Excerpt) Read more at dailymail.co.uk ...
I would think Google wants nothing to do with Groupon now. I always felt Groupon was just a passing fad. No way they had a solid business model for continued growth.
-- Andrew Mason could probably use a Groupon for a massage, a beer, or some comfort food right about now.
His company's precipitous stock decline continued on Monday, sending Groupon's market cap below the $6 billion that Google offered as a buyout in late 2010.
source: http://money.cnn.com/2012/06/04/technology/groupon-stock-6-billion/index.htm
shudda cudda
Doh!
Doh!
I completely agree with your assessment of Groupon. I never understood why a half-assed location-aware spam service was generating so much excitement. Google has their own replacement for it now anyway.
Regarding Digg, I was one of the early users, and in those early days it was a really good site. But then one day it turned political, and the libtards came and just trashed it. Literally every other article was political, and the threads were filled with libtard posts. I sent the Digg folks several suggestions regarding adding a filter to allow users that didn’t want to see that stuff to filter out political articles, but to no avail.
So screw Kevin Rose. I’m actually quite happy to see the whole thing crash and burn.
I find it weird that they say 2 million in American Dollars but say that the sale was 500,000 in British Pounds....I guess it make the story sound worse. Such an agenda that is being eaten up....pity. They still lost money but not what people believe. Plus that is still a nice amount of money. I’d take it. lol.
Maybe about 30 years ago or so there was an investor and he’d always say, “If somebody puts a million in my hand they’ve got a deal!” These new guys are so greedy they don’t know when to say yes.
“...and the libtards came and just trashed it.”
And Digg staff favored the liberals. People’s personal blogs saying the worst unsubstantiated crud about conservatives were pole vaulted to the front page. The liberals buried any content (even from trusted sources) that had a conservative opinion or content.
It came a point that The Abnormal Freak Out Blog edged out legit news sources.
Conservative posters were repeatedly abused in comments with rare repercussions from Digg staff... but conservatives lived in fear of being banned by multi votes if they returned similar sentiments.
So ... the site deserved to die. They basically suicided.
These blogs were making a profit from hits.
The company raised a total of $45 million in funding from established venture capital firms like Greylock Partners.
Another reason why capitalists make such outlandish profits - outlandish losses. $45 million turned into $500K (or is it pounds?) is a 99.98% loss.
The title says they sold for just $500,000. In the article is says £500,000. Searching the internet, it appears the %500,000 in the title may be the correct figure, based on many other articles detailing this sale, including the WSJ.
%=$
I agree, these new guys are much more greedy. That Facebook guy comes to my mind.
Greed personified!
Same here. I was excited when I found Digg, and for a few years found it very interesting. But, after getting shouted down for merely expressing differing opinions and seeing conservatives trashed on a regular basis, I just gave up on it.
In fact, I hadn’t even thought about it since last year. I took it out of my bookmarks and haven’t been back since.
Good riddance.
Isn't Reddit the same liberal hot mess?
The same problem exists on Askville and other sharing sites. While it is initially emotionally satisfying to liberals to shout down the competition and feels like a win, it drives the conservatives to conservative web sites, social networks, news sources, etc.
You end up with a deeper cultural divide, where even news, pop culture and socialization are segregated. And it is on the basis of politics and belief, not skin color.
A civil war is easier when everyone is already divided. Between the taxpayers and the takers, it’s easier to have a conflict if you don’t talk to them, ban them from your employers, or even hear their point of view in passing.
Psst.. Facebook.com. Guess what’s ahead..
LOL shoulda took while the taking wuz good
Children have decades of experience spending money and very little practice earning and keeping it. The world isn't very helpful either. There's some stat out there that 4/5 NFL players are bankrupt within years of leaving the league.
Greed in the feminine form.
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