Marco Arment, creator of popular read-it-later service Instapaper, has sold a majority stake in the service to Betaworks. Arment was concerned that he alone was not able to give Instapaper the attention that it needed going forward, determining that to remain healthy, it would need a full team of developers.
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.
Betaworks is also the owner of the Digg brand, which they purchased last July. Arment has said that he will continue to advise the development of Instapaper indefinitely, while Betaworks takes over the day-to-day operations and workload. He says that Betaworks will be a good home for Instapaper, and they will be able to give it the attention that it deserves.