Digg plans for growth with new funding

Social news pioneer Digg plans to grow its staff, boost its features and expand internationally.

Social news pioneer Digg, facing intense competition from Yahoo's Buzz, has unveiled aggressive plans to grow in size and scope and boost its features.

Digg announced on Wednesday that it raised US$28.7 million in its latest funding round and that it will use the money to double its staff and expand internationally.

Digg, founded in 2004, popularized many so-called social news features, such as letting readers submit, vote for, rank and comment on articles, which have been adopted widely by mainstream news outlets across the Web.

Yahoo's recent launch of its social news site, called Buzz, has turned up the competitive heat in this space, and is likely a motivation behind Digg's improvement plans.

Digg, which said its traffic has doubled in the past year to around 30 million monthly unique visitors, has often been rumoured as an acquisition target by larger players like Google.

However, the company remains independent and, judging by Wednesday's announcement, up for the fight by, among other things, growing its staff from 75 to 150 employees by December of next year. Digg also plans to revamp its site's operation to make it easier for visitors to find content and customize their experience.

The company also intends to expand internationally, offer its service in other languages and improve its analytics tools for publishers. In addition, Digg wants to strengthen its advertising services to boost that revenue stream.

This latest funding round was led by Highland Capital Partners and also included Greylock Partners, Omidyar Network and SVB Capital. Digg previously raised US$8.5 million in December 2006 and US$2.8 million in October 2005.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags social networksdigg

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Juan Carlos Perez

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?