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Digg gets bags of cash, but for what?

Started by mathewi · 9 months ago

So Digg has raised an additional $28.7-million from its various financial backers, according to a blog post by co-founder Kevin Rose, a press release from the company, and numerous reports from the blogosphere. That’s almost three times as much as Digg has raised so far, in two ... Continue reading »

2 comments

  • Thusenth

    9 months ago

    The concept of Digg is a powerful one, much like Facebook - but both are hard to monetize and I treat both as a commodity personally. I jump on Digg to see the most dugg stories in the categories I care about sans the goofy photos which are always the most dugg, then I get out of there. Digg tries to be everything to everyone when it comes to news aggregation which is a long-term project, but I'd rather just hang out on TechMeme, Autoblog, and Gizmodo and get what I care about now rather than let Digg guess for me. To give them credit, the recommendation engine isn't half bad. There's a lot of money on the line now, and Kevin seems like a cool guy as does Jay from what I've read and watched of them, but with Jay in NY, and Kevin with three projects on the go and no past exits, I can only see Digg exiting via acquisition to earn its valuation - no way can they do it as a standalone entity at a rate fast enough for the VCs considering its plateauing traffic.
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  • rod / techfold.com

    9 months ago

    For What? is exactly what I thought when I read the press release/blog entry from Adelson too. Their answer to their inability to break out of their community imposed niche in the states is to.... try again in different countries. Huh.

    I suppose its the founder's imperative to always imagine that their property has the potential to be something more than another iteration of its current state, but in the case of Digg, I can't help but think that it is already what it will ever be: a center for a small, passionate community that will sustain a nicely sized small business, possibly getting acquired as an quick ad inventory grab.
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