Betaworks acquires Instapaper with a plan for expansion

If you're the sort who likes to catch up on web articles through a dedicated reader app, you're likely familiar with Instapaper and its lone creator, Marco Arment. His solo work makes for a cohesive experience and a great story, but it also involves a lot of strain -- enough so that Arment is selling majority control of the app to Betaworks, the owner of Bitly and Digg. Thankfully, this shouldn't represent a classic acquire-and-absorb deal that ultimately kills the original brand. Arment says he'll remain involved as an advisor, and the takeover is arranged with promises that Betaworks will add staff and continue building the read-it-later tool. While neither side has said just where they'll take Instapaper with more resources, there's a real chance that competitors like Pocket will feel some added pressure.

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Betaworks acquires Instapaper, promises continued development