Digg CEO Jay Adelson is stepping down and Founder Kevin Rose will take over, Liz Gannes of GigaOm reports.Jay told GigaOm he’s quitting to pursue his “entrepreneurial calling.”
Truth is that while Digg was a very hot Web 2.0-era startup, it never quite hit the mainstream the way that Facebook or Twitter have.
(More people get their news from their friends and other users through those sites than they ever will through Digg.)
In 2008, Digg hired investment bank Allen & Co in hopes of finding an exit. It cut its asking price from $300 million to $225 million or less. Google’s Marissa Mayer reportedly lobbied for a deal, but it never happened. The following fall, Digg took funding at a $167 million valuation. Then there were layoffs.
Digg has reportedly had some success with a new ads users are able to vote up or down. At one point, there was talk of a Digg ad network.
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