Digg for Sale? Not!
by Frank Jovine on 09/24/2008 in Business, Internet
Social news site Digg has raised $28.7 million in a Series C venture round led by Highland Capital Partners, and has in turn announced a major site expansion.
Digg had long been rumored to be up for sale, with buyers from both the media and Silicon Valley sides of the aisle reportedly interested. The company walked away from a $100 million offer from the Al Gore-founded Current Media, which eventually launched an in-house social news service called Current News. News Corp., which acquired MySpace in 2005, has also been mentioned as a potential suitor, and there always seems to be a rumor that Google has wanted to buy Digg.
“Today is a big day for Digg,” CEO Jay Adelson wrote on the company blog. “We’re announcing a major expansion effort–the largest we’ve undergone in our history. With a new round of funding, we’re accelerating many of the programs that we’ve been working on over the past several months, including investments in infrastructure, new feature development, international expansion and hiring all the people we need to get there.”
The site plans to explore geographic expansion options, including translating Digg into languages other than English, and “significantly” expanding the size of its San Francisco work force.
Clara
Sep 24th, 2008
I think this is scary. Digg is so manipulative of their users and sites now, I’d hate to think what they could do with millions of dollars.
Frank J
Sep 25th, 2008
Clara I agree and with Digg it seems to clicky for me. If you’re not part of a group than your traffic will not increase. This is what I mean about clicky.
POTPOLITICS™@DO FOLLOW
Sep 25th, 2008
Yeah that was a few months ago
Digg’s value is worth half that now
and I doubt anyone is spending a 100 million
right now So we shall see
To me it’s worth 5 bucks
Frank J
Sep 26th, 2008
I agree! Digg traffic just doesn’t hit it out of the park for me.