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Instapaper Sells Majority Stake to Digg’s Owners, Betaworks

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Popular ‘read it later’ service Instapaper has been sold to Betaworks, the company that currently owns Digg. As detailed by Instapaper founder Marco Arment, Betaworks has acquired a majority stake in the service; rest assured the app and service will continue on into the future:

I’m happy to announce that I’ve sold a majority stake in Instapaper to Betaworks. We’ve structured the deal with Instapaper’s health and longevity as the top priority, with incentives to keep it going well into the future. I will continue advising the project indefinitely, while Betaworks will take over its operations, expand its staff, and develop it further.

I’ve known Betaworks for years, and I’ve spent a lot of lunches at their office. They have great engineering talent, great product direction, and plenty of experience running services at Instapaper’s scale. I wouldn’t put Instapaper in just anyone’s hands, and I know that they’ll do right by it.

Betaworks acquired Digg last summer for $500,000 and the latter is currently building a Google Reader replacement. Arment, a former lead developer from Tumblr, noted he thought of Betaworks as a potential buyer of his service “a couple of months ago,” most likely timed with Google’s announcement to shut down their popular RSS service. Congrats to Arment on this sale.

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