Betaworks, a company that develops beta projects into more full fledged ideas, has purchased Instapaper — the popular app that lets you save content to read later. Terms of the deal were not disclosed.
Marco Arment, who founded Instapaper on his own back in 2008, said in a blog post that the company has, “grown far beyond what one person can do. To really shine, it needs a full-time staff of at least a few people.” Arment explained that he isn’t interested in taking on this task and wants “to try other apps and creative projects.”
He continued: “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.”