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This week in social media has been all about ads and social media makeovers. Read on for the Finn Partner’s Social Media Roundup!

Social Hot Topics

Twitter Releases New Ad Features

This week Twitter released two new ad features that will help businesses get more out of advertising on Twitter. The first is a chart that tracks your organic vs. paid audience growth over time. The second feature allows advertisers to manually select which tweets to promote.

Twitter Gets a New Makeover

Have you noticed Twitter’s new look this week? It features a larger, Facebook timeline-like banner image with the user’s avatar in the middle and a more robust photo stream.

Facebook to Charge for Posting Consumer Offers

Facebook announced that it would now charge businesses to post offers, or coupon-like ads for consumers. This move comes as investors increasingly pressure Facebook to bolster its advertising business.

Social Tools to Check Out

6 Ways to Use Reddit to Grow Your Business

Many marketers have shied away from the self-proclaimed “Front page to the Internet” known as Reddit due to user backlash to brands and certain celebrities using the site to shout their messages at fans. But if you tread carefully, Reddit can be used to connect and engage with your fans in all the right ways.

6 Pinterest Analytics Tools to Supercharge Your Influence

Pinterest is the hottest thing in social right now, which is why your company needs to understand how followers are engaging with your boards. Bonus: this gives you yet another excuse to play around on Pinterest at work!

We hope everyone had a nice weekend and got out to enjoy the summer weather. Just in case you missed it, here is the top social media news from last week.

Digg.com Sold

Digg.com joined the ranks of Friendster and Myspace as social media busts last week when it sold for $500,000 to Betaworks. The paltry $500,000 price tag for the formerly giant social news reader is in sharp juxtaposition to the 9 figure valuations Digg reached during its 2006 peak as well as the $40 million the company raised from venture capitalists.

The sale comes two years after a controversial site redesign that led to an exodus of even the most devoted Digg fans and one year after co-founder Kevin Rose left the company for greener pastures. Digg’s popularity has fallen dramatically since 2008 when the company topped 30 million visitors a month. The site currently hovers at 7 million monthly visitors.

Digg’s new owner, Betaworks, plans to put its News.me team to work on Digg.com with an entirely new site expected by August 1^st. The relaunch aims to bring Digg back to its startup roots with a low budget and small team. Unlike Digg’s previous owners, Betaworks plans to take into consideration input from its users when building the new Digg.com in hopes that it can steal the title of top dog from the former scrappy underdog, Reddit.

Visit Digg.com on August 1^st to see if the team at News.me was able to teach an old dog new tricks.

Facebook and Wal-Mart Meet

Silicon Valley met Arkansas this week when Facebook founder Mark Zuckerberg and COO Sheryl Sandberg met with Wal-Mart executives at Wal-Mart’s Bentonville, Arkansas headquarters. Analysts interpret the visit as a play by Facebook to open up new revenue streams through an increased involvement in online retail sales as well as a play by Wal-Mart to tap into Facebook’s 900 million users in an effort to compete with online retailer Amazon.com.

Finding additional sources of revenue outside of advertising could be crucial for Facebook if it wants to avoid going the way of former social media giant Myspace.

Have a great week and check back Friday for this week’s social media review!