Reddit had its biggest day ever thanks to President Obama’s AMA. No surprise there, considering the site was inaccessible for most of it. [The Verge]
RIP Microsoft Zune, can’t say anyone will really miss you. [Engadget]
Shopbop is trying to make itself into a high-end competitor to sites like Net a Porter. [New York Times]
Facebook has been cleared to officially purchase Instagram. [Wall Street Journal]
Is TechCrunch a bully? [Lane Wood]
Tomorrow (or maybe Monday, unless Betaworks is really cracking that whip) the work of rebuilding Digg will begin. But today is a day of eulogies. What slew Digg, the once-mighty social site at one time thought to be worth $200 million? The Wall Street Journal points to Twitter and Facebook. This Forbes contributor is pretty sure it was Reddit.
Actually, Redditors are pretty sure that Digg killed Digg.
We popped over to the /r/technology subreddit, where Redditors–many of them self-confessed former Digg devotees–were discussing that Forbes article. Between nostalgic ASCII spam and arguments about Ron Paul, users were pretty much unanimous (or as unanimous as Redditors get) regarding what the site had evolved into. Read More
Just a couple of months after the Washington Post poached most of its staff, Digg proper–the “core assets,” anyway–finally has a fate: It’s been purchased by New York’s own Betaworks, to be combined with News.me.
As for what to expect: Betaworks CEO John Borthwick told Betabeat by email, “We are reverting digg to a startup, expect more things like paperboy,” a feature that lets you automatically update whenever you leave your house.
As for the price tag, well, that’s a little unclear. Mr. Borthwick refused to comment. However, someone with knowledge of the deal told Betabeat said that ballpark number of $500,000 had been floating around and that was the only figure the source had heard. That’s a long way from the $200 million Google is rumored to have once offered for the service, before an acquisition fell through. Read More
Fab took another step toward design-savvy world domination today, with the announcement that the company has acquired the British Isles’ own Llustre, which will become Fab UK. The move follows the February purchase of Casacanda and relaunch as Fab.de.
In a statement released this morning, Mr. Goldberg also announced that Maria Molland, previously of Thomson Reuters, will now be Chief European Officer for Fab, a role which is clearly on a growth track.
Shortly after the news broke this morning, CEO Jason Goldberg and CCO Bradford Shellhammer appeared across the pond at Le Web, where they were grilled good-naturedly by Mike Arrington about the announcement. Curious to know more about the team’s U.K. plans, we caught the talk via livestream.
Most of all, Mr. Arrington wanted to know why Mr. Goldberg and Mr. Shellhammer decided to buy “a clone” rather than “crushing” Llustre. The Fab.com certainly hadn’t responded well to the existence of the Samwer brothers’ copycat Bamarang; why give quarter to this company? Read More
We heard rumors that a large majority of Meebo’s staff was let go immediately prior to announcing its acquisition by Google, so we reached out to a source to confirm.
A source inside the company told us that Google acquired Meebo primarily for the engineering team, and that those engineers would be going to Read More
Salesforce has agreed to acquire New York-based social marketing company Buddy Media for $689 million in cash and equity. As we wrote last week, an acquisition made sense for Buddy following Facebook’s bungled IPO–though it’s worth acknowledging that deals like this take time, and machinations for the acquisition were probably in the works long before the IPO.
“I’m excited to announce that we’ve entered into an agreement to acquire Buddy Media,” Marc Benioff, Salesforce’s chairman and CEO, said on an investor call this morning. “It’s our largest acquisition to date at Salesforce.com. We’re expecting the deal to close in our third fiscal quarter.” Read More
When it comes to technology acquisitions, competition probes are fairly typical; as Microsoft or Google would probably attest, it’s kind of a rite of passage. That’s why it’s pretty unsurprising that the Federal Trade Commission
announced is rumored to have launched an antitrust probe into the Facebook-Instagram deal today, a move that is routine for deals over $66 million.
Apparently Instagram’s $500 million valuation sent Mark Zuckerberg into outright panic mode. The acquisition wasn’t some secretly-long-in-the-works project. An anonymous source tells Dealbook that within 24 hours of the photo-sharing serving closing its latest round, Zuck was calling up CEO Kevin Systrom, ready to make it rain:Read More
So, are we all Instagrammed out? We’ve covered how much money everyone made, how CEO Kevin Systrom is a self-taught programmer, and whether Facebook will be the death of the service. But now that everyone’s recovered from the billion-dollar sticker shock, the question is: What does this mean for Pinterest? Basically, she’s the prettiest girl in town, and she just caught the bouquet at her sorority sister’s wedding. Read More