The Big Digg

September 26th, 2008 | Sources: Wall Street Journal

Subjects: ,

Digg Inc., a social-networking site where users share their favorite content from anywhere on the web, plans to double its staff to 150 in the next year, expand into international markets and move into spiffy new, uh, digs.

A $28.7 million investment led by Highland Capital partners of Lexington, Massachusetts will fund the expansion. As part of the fresh funding, Highland’s Richard de Silva will sit on Digg’s board.

Digg was founded in 2004 and now claims to have 30 million visitors to its site each month, twice as many as one year ago. Its expansion comes at a time when traditional media companies are struggling as readership and advertising revenues shift to the Internet.

At the time of this post, the three most popular items on Digg were:  You liberals could put a negative spin on anything (a comment exchange from Flickr), Craig Ferguson on McCain suspending his campaign (a YouTube video), and Listen to yourself (a web comic).



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