Lexington, MA-based Highland Capital Partners led a $28.7 million Series C funding round in Digg, the San Francisco-based social news site announced today. Existing Digg investors Greylock Partners, SVB Capital, and Omidyar Network joined the round, which will be used to finance an ambitious expansion that includes doubling Digg’s staff to 150 by the end of next year. Digg had raised $11.3 million in its two previous rounds. Richard de Silva, a general partner in Highland’s Menlo Park office, will take a seat on Digg’s board. TechCrunch reported this summer that Google had walked away from a deal to acquire Digg for something on the order of $200 million.
Author: Robert Buderi
Bob is Xconomy's founder and chairman. He is one of the country's foremost journalists covering business and technology. As a noted author and magazine editor, he is a sought-after commentator on innovation and global competitiveness. Before taking his most recent position as a research fellow in MIT's Center for International Studies, Bob served as Editor in Chief of MIT's Technology Review, then a 10-times-a-year publication with a circulation of 315,000. Bob led the magazine to numerous editorial and design awards and oversaw its expansion into three foreign editions, electronic newsletters, and highly successful conferences. As BusinessWeek's technology editor, he shared in the 1992 National Magazine Award for The Quality Imperative.
Bob is the author of four books about technology and innovation. Naval Innovation for the 21st Century (2013) is a post-Cold War account of the Office of Naval Research. Guanxi (2006) focuses on Microsoft's Beijing research lab as a metaphor for global competitiveness. Engines of Tomorrow (2000) describes the evolution of corporate research. The Invention That Changed the World (1996) covered a secret lab at MIT during WWII. Bob served on the Council on Competitiveness-sponsored National Innovation Initiative and is an advisor to the Draper Prize Nominating Committee. He has been a regular guest of CNBC's Strategy Session and has spoken about innovation at many venues, including the Business Council, Amazon, eBay, Google, IBM, and Microsoft.
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