UPDATE: Rose has confirmed this news in a tweet, which reads in part, "I'll continue advising Digg [and serve] on the board of directors and taping Diggnation (as I have been since [Matt Williams] joined)." Rose founded Digg in December of 2004, and quickly saw the social news site become one of the hottest in the then burgeoning Web 2.0 space. Over the years, however, Digg's prominence has declin
It is easy to forget that the big popular sites were once small too. The first version of Digg cost $200 to build and launch. After Kevin Rose came up with the idea back in 2004 he found Owen Byrne through eLance to develop the idea. He was paying $99/month for webhosting and got the domain name for $1,200.  A few months later he launched the site with an announcement on his blog. This is what i
Perhaps Digg really is the future of the news business. The headline-discussion site, once an icon of the Web 2.0 movement, is losing millions of dollars a year. BusinessWeek's Spencer Ante got ahold of Digg's financial statements. They are frightful, even for a startup. Last year, the company took in $4.8 million and spent $7.6 million, for a loss of $2.8 million. In the first nine months of this
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