Digg Raises $28.7 Million in New Funding, Announces International Expansion Plan

By on 09/24/2008 4:02 PM @

User-driven news site Digg announced a major expansion today that will include doubling its staff, growing internationally, improving infrastructure and developing new features. The company raised $28.7 million in a new round of funding led by Highland Capital Partners to finance its progress, according to Jay Adelson’s post on the Digg blog.

Although still unprofitable, Digg has now raised $40 million to date, Brad Stone writes in a blog post at The New York Times.

Andy interviewed Digg founder Kevin Rose at the MIT Technology Review summit in September of last year, and I reposted the interview above.

Digg’s international initiative is especially crucial for the company to move forward, as international users account for almost half of its 30 million monthly uniques. Digg plans to introduce local versions of the site in local languages, although Jay writes that won’t begin laying the groundwork until early 2009.

According to Alexa data, India and the UK are the top two foreign users of the site, driving eight percent and six percent of its traffic, retrospectively.

Kelsey Blodget, Associate Producer

Recent Videos
image
Facebook Targeting A Boon for Marketers, Havas’ Social Lead

CHICAGO — Facebook is a marketer’s dream for video, but brands need to be smart about how to use the targeting, fan base, and types of video on the social network, says Len Kendall, Director of Social Marketing at Havas Worldwide, in an interview with Beet.TV. “Because of segmentation and ...

image
Ziff Davis Enjoying ‘Renaissance’: CEO Shah

When Vivek Shah took over at the helm of PCMag.com publisher Ziff Davis, the company was still recovering after emerging from Chapter 11 bankruptcy protection, continuing to sell off properties. If he says so himself, Ziff Davis under Shah may has turned a corner. “Ziff is probably one of the more ...

image
Comcast Sees Big Growth in C3 VOD Viewing

While TV Everywhere tends to dominates the chatter about non-linear viewing, many cablers are actively marketing and delivering viewers for their existing VOD services. Comcast, for instance, logged its 30 billionth program viewed on demand in the last year and has seen 100% growth in time spent viewing in ...

image
Passion, Entertainment, Education Key To Brand Video: BPN’s Hiland

CHICAGO — What are the key ingredients to a making a video that works both as editorial and marketing? One big barbecue food maker mixed entertainment, education and a healthy dose of passion. IPG’s BPN chief strategy officer Chris Hiland tells Beet.TV in this recorded panel interview how his ...

image
Video Beats Display, Nearly As Good As TV: comScore’s Fulgoni

CHICAGO — Digital video is performing highly as an advertising medium, and nearly approaching the volume of TV in some quarters, says one of the leaders of venerable media metrics house comScore. “You need about three times as many display impressions to get to the same lift in impact which you ...

image
IAB’s Shah: Too Many Viewability Platforms Will Hurt Industry

Viewability, the recently-defined metric that defines whether an online ad slot is really viewable by consumers is a wholesale change for the industry – but its benefits may be blunted as too many platforms are vying to help advertisers capitalize, according to Ziff Davis CEO and IAB chair Vivek Shah. ...

image
Marketers Can Reach ‘Meerkats’ With Mobile: Weather Channel’s Dan Young

LONDON — Mobile video heralds a chance for advertisers to reach consumers who may appear to be distracted or in the outdoors – but who are actually highly engaged and watching TV, according to Weather Channel international yield and programmatic Daniel Young. “It’s personal,” Young ...

image
Ooyala Buying Videoplaza To Enhance Video Advertising Breadth

They are two of the best-known names in online video service provision – and now they are coming together as one. Video streaming service Ooyala, itself now owned by Australian telco Telstra, is acquiring its video advertising peer Videoplaza. The buying company says the deal “allows Ooyala to ...

image
Videology Opens TV Practice To Make Buying Smarter

Videology has established a strong profile for itself by helping TV ad buyers make intelligent decisions to buy online video ads. Now it wants to help them buy good old fashioned TV ads in the same way. The New York-based company is opening a dedicated TV practice. As CEO Scott Ferber tells The Wall Street ...

image
Interstitial Better Than Auto-Play: Jun CEO Mulls New Mobile Ads

CHICAGO – Ad network Jun Group’s CEO Mitchell Reichgut “recoils” when he hears about auto-playing ads, the new format being picked by Facebook and others to deliver video messages. But that doesn’t mean he won’t try introducing interruptive ads of his own. ...

image
Facebook is Redefining the Value of of Video Autoplay, Vivek Shah

Historically, videos which start automatically on Web pages and in mobile apps can be offensive to users, but the approach taken by Facebook by setting videos to autoplay without sound, is an important step forward for publishers and marketers, says Vivek Shah, chairman of the IAB and CEO of Ziff Davis, in ...

image
Mindshare’s Cridlin to Brands: Stop Seeking Fans on Facebook — “Organic Reach Is Non-Existent”

CHICAGO – Put your money where your mouth is. That’s the new mantra of digital ad execs who believe gaining free audiences by building viral social audiences is over. “There is an urban myth of organic reach, of something going viral,” Mindshare digital innovation and strategy MD Jim ...

loader