Digg gets $8.5 million funding

Posted on Friday, Dec 29 2006 @ 16:16 CET by Thomas De Maesschalck
Digg founder Kevin Rose announced this week that his social bookmarking website received $8.5 million in new financing from previous investors including Greylock Partners and the Pierre Omidyar Network.

The site is planning to hire new developers and consolidate its position among the leading media portals.

Digg is one of the top 100 most visited websites in the world but it's still not profitable. But that's not a big problem, according to Digg. They say their board and investors didn't want them to focus on monetization at this stage. Digg's only focus has been on user growth.

Currently the site has almost 119,000 registered users and many more visitors.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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