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Category: SocialMedia

Digg: Start-up Mode Again

Written on October 26, 2010 by Japhet Writ

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A couple of months ago, Digg gave its site a make over and lost a tad full of users afterwards. Now that the company's revenue is going down the drain, Digg CEO Matt Williams needs to do some stuff to turn things around.

CEO, , revealed in an interview that is focused on getting healthy again. How? By cutting the costs, resetting its strategy and re-entering start-up mode. announced that will layoff its current staff of 67 to 42. This should be done in order to reach profitability by 2011.

More over, the company shared a part of its new strategy for next year. Digg will primarily focus on increasing its engagement with the community. It will be recalled that the lost a handful of users after the release of the site’s new version. On the revenue side, the company will go for a . In a belief that Digg’s new ad format is innovative and powerful, the company will find ways that can be used by advertisers.

Williams intends to run Digg as a lean start-up in order to clean house. But he needs to have his work cut out for him, if he wants to achieve profitability for the social news website by next year.

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