Digg Raises $28.7 Million In Series C
4-year-old news voting site Digg, has raised $28.7 million in Series C funding led by Highland Capital Partners along with Greylock Partners, Omidyar Network and SVB Capital. This takes the total amount raised to $40 million across the three rounds.
The site, which claims to get 30 million visitors monthly, lets users vote news stories up or down in an online ranking system that is part popularity contest and partly a means for the audience at large to act as editors and filter incoming news. “Digg this” buttons now appear at the bottom of news stories on more than half of the top 25 ranked U.S. news sites, including The New York Times, Fox News, BBC, Sports Illustrated, WSJ.com and Reuters.
The company plans to use the investment to fund its international expansion, including initiatives aimed at making Digg more relevant to local tastes, including local languages. This makes sense given that the US traffic to Digg seems to be plateauing, while the international traffic seems to be rising slightly.
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Filed under: Deal Tracker
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