SOCIAL MEDIA’S FALLEN STAR
The recent sale of Digg for just €500,000 has social media stars under scrutiny.
Once valued at more than $160 million, $45 million in venture capital was orginally raised by the news-sharing site in return for stock options that are now worth less than two-thirds of investors’ funding. Prominent investors and angels included Facebook investor Greylock Partners, LinkedIn Inc. founder Reid Hoffman, and venture capitalist Marc Andreessen.
Spencer Ante, WSJ Corporate Assistant Bureau Chief, reports on Digits how the company has fallen so far, so fast.
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