While Digg is cutting a rumored 10% of its current staff, they are also hiring a direct sales team to try and beef up revenue. CEO Jay Adelson notes that company priorities now include, “building on our advertising infrastructure, our successful partnership with Microsoft, and ongoing sponsorship opportunities.”
BusinessWeek recently disclosed that Digg’s revenue was just $4.8 million in 2007, and through the first three quarters of 2008, $6.4 million. While big numbers by most Web startup standards, considering that Digg reaches more than 30 million people each month, they are hardly inspiring.
Although Digg is yet to turn a profit, the company still has plenty of cash on-hand. They raised $28 million in fresh funding in September.
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