Digg raises millions more funding
Cory Bergman December 28th, 2006
VentureWire reports Digg has raised another $8.5 million in funding from previous investors, Greylock Partners and the Omidyar Network, which is run by eBay founder Pierre Omidyar. “A lot of where this is going is increasing our development team and focusing on the features our users are telling us to add,” said Digg Chief Executive Jay Adelson in an interview. “Our board and investors did not want us to focus, at any time, on monetization at this stage. Our focus has been on user growth.” Greylock investor David Sze says it’s unlikely Digg will be sold anytime soon as they’re looking at partnering with sites interested in integrating Digg’s functionality. (Via PaidContent)
3 Comments Add your own
1. Vinny | December 28th, 2006 at 3:12 pm
Okay… So we know that Digg is securing and spending money on a ridiculous clip. How is it actually making money?
Or is it?
2. Ed | December 29th, 2006 at 9:18 am
It’s not - this is just bridge money as they wait for a buyout by some desperate, short-sighted old media company.
3. Vinny | December 29th, 2006 at 9:54 am
I figured as much. Should be interesting when, as you say, some old company decides to buy into cool.
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