Doesn’t it feel like we’re back in 2000 and 2001? All the high-profile tech companies seem to be putting their ambitious growth plans on the back burner as they desperately seek ways to cut costs and become (more) profitable. And now you can add social news site Digg to the list.

Having failed to sell Digg to various potential buyers, Digg CEO Jay Adelson says the social news aggregator is no longer for sale and will now focus on building a profitable, independent business.

Apparently, Digg will aim to triple sales before the end of 2009 and turn a profit within 1-2 years. It will do so by:

• Cutting back on expansion plans
• Reducing costs
• Renewing its focus on increasing sales
• Inserting ads into RSS feeds
• Buying Digg ‘clones’ to expand overseas
• Adding new features to increase more clicks on the site

Source: Nicholas Carlson, “Jay Adelson’s Six Step Plan To Make Digg Profitable”, Silicon Alley Insider, December 2, 2008

Related Articles:

• Digg Ads Going Into Beta
• Publicis Chief Says Advertising Market on Rebound
• Worlds.com Eager To Sue Second Life and World of Warcraft
• Patch Aims To Fill Gap Left By Local Newspapers
• How Much Is a Google Visitor Worth?

This entry was posted on Saturday, December 6th, 2008 at 1:00 am and is filed under News and Comment, Social Media. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.