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Digg Inc., the Web service that lets people rate news stories, will soon overhaul its site to make the content more relevant to users, founder Kevin Rose said.
The company is also days away from hiring a new chief executive officer, he said. Digg has narrowed the search to three candidates, Rose said in an interview last week at his office in San Francisco. The new chief will assume control about the time the new site, currently being tested by a limited number of users, is introduced to the public. He declined to name the candidates. More>>
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I agree fully about Digg. They've raised plenty of money ($40 million if you tally up the funding table from PrivCo.com – pasted below – but where's the business model?
Source: http://www.privco.com/private-company/digg-inc
Funding Activity
DateInvestorRoundInvestor Type
10/2005Greylock PartnersAVenture Capital Firm
10/2005Omidyar NetworkAInvestment Banking Firm
10/2005Marc AndreessenAIndividual
10/2005Reid HoffmanAIndividual
10/2005Ron ConwayAIndividual
10/2005Mike MaplesAIndividual
10/2005Al AveryAIndividual
FullTotal Round A $2,800,000
12/2006Greylock PartnersBVenture Capital Firm
12/2006Omidyar NetworkBInvestment Banking Firm
FullTotal Round B $8,500,000
09/2008Greylock PartnersCVenture Capital Firm
09/2008Omidyar NetworkCInvestment Banking Firm
09/2008Highland Capital Partners, LLC.CVenture Capital Firm
09/2008SVB Financial GroupC
FullTotal Round C $28,700,000
Total Funding $40,000,000
Comment by Wharton MBA — May 23, 2011 @ 7:23 PM