Digg Announces Major Expansion Plan
Digg is getting ready to more than double its size. The company has just announced a new round of funding — $28.7 million, to be precise — and along with it, big plans for the future.
The social news giant will be hiring dozens of new people over the coming year, with the goal of having 150 employees by next December (compared to its current staff of 75). The new employees will focus on additional product and features under development for Digg. So far, execs only say those features will include more ways to consume content, “deeper category and topic content views,” and extra options for “discovering and customizing” material.
Other plans for expansion include moving Digg to a new, bigger office in San Francisco that’ll be three times its current space; expanding the service into multiple languages; adding publishing tools such as analytics to the site; and increasing Digg-related marketing.
Digg’s new Series C funding comes from Highland Capital Partners along with Greylock Partners, Omidyar Network, and SVB Capital. Site execs say ad revenue has also nearly tripled in the last year, further adding to their extra cash.
Digg now claims about 30 million unique visitors per month — a number twice what it was pulling in one year ago.