Digg is a news website with an emphasis on technology and science articles. News stories and websites are submitted by users, and then promoted to the front page through a user-based ranking system.
After Digg’s recent launch, it soon became one of the most popular sites on the web, ranking in at 24 (beating the NY Times) the rumor is that Digg is now worth $200 million. Digg’s founder, Kevin Rose is said to be the new, hip star of the young entrepreneur crowd. Since Digg is such a great idea for a web 2.0 business, many other e-commerce companies, such as Yahoo! are becoming worried that Digg has become such a huge success and will continue to grow and consume much of the online audience. For example, there was a rumor that Yahoo! is going to offer Digg $40 million for the newly formed company.
Although, as of now, Kevin Rose is in no position to sell the company, he is even publicizing that there will be new and exciting new features to the site.
http://www.businessweek.com/magazine/content/06_33/b3997001.htm
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