Digg Co-Founders Take $1 million for Rev3
Revving up the hype even further, the cofounders of the social news site Digg have raised $1 million in financing from Marc Andreessen and Greylock Partners. But the money isn’t for Digg: it’s for Revision3, their video podcasting service that includes the popular podcast DiggNation. Digg co-founder Jay Adelson says DiggNation is already making between $50,000 and $100,000 per month, and the money will allow them to assemble an ad sales team, rent an office and pay regular contributors.
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