Social Web Hype Hits a Maxim With Digg's Latest Round of Funding


Yesterday afternoon Digg announced that they had secured yet another round of funding. This new round is for $28.7 million. Two things come to everybody’s mind: what are they going to do with all that money and did Kevin and Jay take some cash as part of this round? Is the company prepared to release the latest cure for cancer? Probably not.

I’m giving Digg a hard time. I mean Facebook was able to raise almost half a billion after all their rounds of funding right? While the site attracts over 20 million monthly users domestically and even more worldwide, the site isn’t exactly at the early stage of their growth.

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