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| Image Source: Chasnote |
The news that Digg has been sold is all over the news. The popular news-sharing-commenting and voting site Digg which was once valued at close to $200 million has been sold for $500,000. This comes as a shock to many but not to people who have been following the rise and fall of Digg. I for one was not at all shocked at the sale and the valuation. It was common knowledge that Reddit was rising in fame and popularity while the regulars at Digg were on a mass exodus to Reddit. As Forbes points out that this happened once the final version v4 was out. Prior to this Digg had had a few updates which constantly irked users of the site. Reddit was also built on kind of the same concept - to share news and other articles found on the web with users who might find it interesting. Users could then downvote or upvote news, articles, videos and images and bring the same onto the first page. They also had other relative subreddits like IAMA, where people could come and share something personal about their life.
Analysts might credit the rise of Facebook and Twitter as the sites that led to the downfall of Digg. It was Reddit the new comer that had grown in popularity actually and had begun to takeover the destination on the web - the destination of where people on the internet could go to find and share info. Fast flowing and freely available on the internet. Reddit has also become the destination on the web for cultures and subcultures to group together and talk about things they love. The WSJ reports that last December Reddit overtook Digg and has maintained the lead. The difference we believe is that these subreddits that users can join to group together and form communities is the strength of Reddit. let us know what you think in the comments section below.
Source: Forbes via WSJ
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