Betaworks, a US-based technology incubator and holding company backed by multiple corporations, has acquired a majority stake Instapaper, a read-later news application, for an undisclosed amount.
Betaworks backers include corporate ventuiring units from chip maker Intel and media groups AOL Ventures and New York Times.
Marco Arment, founder of Instapaper, said on his blog: “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.”