Marco Arment, creator of Instapaper, has announced that he's sold a majority stake of the company to Betaworks who also owns Digg.com.
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Instapaper is much bigger today than I could have predicted in 2008, and it has simply grown far beyond what one person can do. To really shine, it needs a full-time staff of at least a few people. But I wouldn’t be very good at hiring and leading a staff, and after more than five years, I’d like an opportunity to try other apps and creative projects. Instapaper needs a new home where it can be staffed and grown, but I didn’t want to give it to a big company that would probably just shut it down in six months.
A couple of months ago, at 1:30 AM, I suddenly realized who should take it over. I jumped out of bed, tiptoed downstairs (no parent wants to wake a sleeping baby), and sent an email. It didn’t take much convincing, because we both knew it was a great fit. 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.
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More details about the sale can be read in Arment's blog post. You can purchase Instapaper from the App Store for $3.99.
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Instapaper is much bigger today than I could have predicted in 2008, and it has simply grown far beyond what one person can do. To really shine, it needs a full-time staff of at least a few people. But I wouldn’t be very good at hiring and leading a staff, and after more than five years, I’d like an opportunity to try other apps and creative projects. Instapaper needs a new home where it can be staffed and grown, but I didn’t want to give it to a big company that would probably just shut it down in six months.
A couple of months ago, at 1:30 AM, I suddenly realized who should take it over. I jumped out of bed, tiptoed downstairs (no parent wants to wake a sleeping baby), and sent an email. It didn’t take much convincing, because we both knew it was a great fit. 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.
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More details about the sale can be read in Arment's blog post. You can purchase Instapaper from the App Store for $3.99.
Read More