From urlyart.com
News-sharing site Digg received $8.5 million in funding led by previous investors Greylock Partners and the Omidyar Network, which had previously invested 2.8 million, reports VentureBeat (via paidContent).
Digg has expanded its scope from just tech news and has integrated video into its site. Earlier this year, Digg was the subject of controversy regarding its traffic figures and the voting system that determines the popularity of a news story.
Digg will hire new developers and consolidate its position among the leading media portals. Though it has grown quickly, it has yet to make money and may find itself with no partner, as similar services have already been acquired by larger media players.
"Our board and investors did not want us to focus, at any time, on monetization at this stage," said CEO Jay Adelson. "Our focus has been on user growth."
