The popular social news aggregator sold Friday for $500,000, less than a third of what the company was appraised at just a few years ago.
Digg sold to tech development company Betaworks for just half a million after it was valued at $160 million.
The site aggregates news based on user recommendations, but the site has seen a progressive drop in visits in recent months.
The loss in valuation comes after a failed redesign halved the user count from 16 million to eight million, and the site has steadily lost users since. The site’s current count for unique visits is around four million while competitor Reddit sits at 15 million and Facebook’s 148 million.