It was recently announced that the popular web page saving and syncing app, Instapaper, has been acquired by Betaworks, the firm that purchased Digg in 2012. The creator of Instapaper, Marco Arment, posted the news on his personal blog stating that the product has “grown far beyond what one person can do.” Betaworks is said to take over app development and operations according to the deal. Arment said the following regarding the matter:

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.
He continued by saying that Betaworks was the right firm to take over and the deal will ensure the “health and longevity” of Instapaper in the future. Arment was picky about selling to the right company, avoiding larger companies for fear that his creation would be dismantled shortly after its acquisition. He told The Next Web the following:

The deal had a lot more to do with Instapaper itself than the competition, honestly. I’ve been having a lot of trouble just keeping the product fresh, functional, and up-to-date for my existing customers.
For those of you unfamiliar with the app, Instapaper was first introduced in 2008 as a Web app, which quickly ended up expanding to include a one-click bookmarklet, a Web sync service, adjustable text views and an iPhone app with assets for offline reading.

The acquisition of Instapaper is said to allow Arment to focus on building other apps and “creative projects.”

Source: Marco Arment (blog), The Next Web