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Betaworks, Owner of Digg, Buys Instapaper

Betaworks, the New York-based startup heavyweight, has acquired Instapaper, Marco Arment‘s story-saving app, just nine months after it bought and relaunched the social news site Digg, TechCrunch reported on Thursday.

“Starting 14 months ago I began to move Betaworks into being an operating company,” CEO John Borthwick wrote. “in our first three years we were a factory for building companies, we built them and spun them out, hired CEO’s and got other people to fund them. 14 months ago I paid our investors all their money back and started making the shift to operating company.”

The purchase comes ahead of the release of Digg Reader, which it has touted as a replacement for the now-defunct Google Reader.

Read the full TechCrunch post for details here.

 

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