As per a recent report, it has been revealed that aiming to uplift the now-weakened social news firm Digg, Betaworks has purchased the same at around $500,000.

It is being said by the online media company’s owners that they would merge the assets of Digg taken over by them with News. me. News. me is a new service being introduced by the company for allowing sharing of articles on iPads and iPhones.

The blend of both companies’ assets would also help in commencing sharing of sections via email newsletters, said John Borthwick, the founder of the media company.

Digg was founded by Kevin Rose around seven years back, the report finds, who has now joined Internet titan Google last year. It has been found that he is fully in favour of the San Francisco-based social news star to be handled by Betaworks

The reason is that, John has previously effectively managed news. me, Chartbeat and bit. ly. And he has now been promising that Digg, which had failed with the arrival of Facebook and Twitter, would also get a new start.

"The News. me team will take Digg back to its essence: the best place to find, read and share the stories that the Internet is talking about", says John.