Digg Will Be Profitable By 2010, Says CEO

f?id=49fa02304b5437f700cc887b&maxX=326&m

We ran into Digg CEO Jay Adelson at a party last night in lower Manhattan. He gave us a couple updates on the social news startup:

  • Plans to hire its own ad sales force are proceeding apace. Digg’s already hired a rep in New York, where it plans to open an office in the coming months.
  • Despite what you’ve heard about its finances, Jay says Digg will be profitable before 2010.
  • Digg’s premium ad inventory rates are healthy — up over a $10 CPM. That’s pretty good for a social media site, and a good reason for the site to rely less on Microsoft to sell its ads.
  • In the very long term — think in terms of years, not months — Jay tells us Digg is looking at ad revenue opportunities off Digg.com itself. “We’re always looking at new opportunities with our publishers and there could be ways to help them monetise as well,” he said.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.