In Memoriam: Even in losing, how Digg won

Digg was one of the most iconic of web companies. In between its supersonic rise and meteoric fall, Digg changed the media landscape forever. And it did one more thing – it seeded many more startups by fostering talent. And in doing so, it lives forever.

Yes James, Good guys do win

Last thirty days have been nothing but full of twists and turns in tech-land. Maybe it is the “bubble” or maybe it is just an upcycle, but it sure is exciting. Here some events from today, that have one common theme: good guys do finish first.

Kevin Rose Becomes CEO in Shake-up at Digg

Jay Adelson, CEO of Digg for the last five years, is stepping down from the gig in order to pursue his “entrepreneurial calling,” he said today. Kevin Rose, founder and long-time public face of the company, will become chairman and CEO.

Did Kevin Rose Take Some of Digg’s New Cash?

Digg has raised $28.7 million in a Series C round of funding. The company made the announcement earlier this morning. Highland Capital Partners is leading the current round, which will see Highland partner Richard de Silva join Digg’s board of directors.

The company will use the funds to expand internationally and move into newer offices; it will also hire more people as part of its expansion. Digg had raised $11.3 million in two prior rounds from investors SVB Capital, Greylock and the Omidyar Network, along with a few angels. [digg=]

The rumor I heard is that Digg founder Kevin Rose got to a sell a nice chunk of his shares in the company, a trend that has become quite fashionable among the Web 2.0 set. Several founders have taken money off the table as their companies wait for a bigger payday. I am sure, however, that he is going to stick around. CEO Jay Adelson declined to comment on the news.

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