That company owns Bitly, Digg, Socialflow and a number of other products. Terms of the deal were not disclosed.
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.
Arment said he would like to work on other apps and creative projects, including The Magazine, his medium-form iPad magazine.