Digg gets $28.7 million in funding

There were rumours at the beginning of the year that it was facing buy out bids from both Google and Microsoft, but Digg has kept on going it alone and just raised $28.7 million in funding.

The cash boost is to be used to help the web company expand internationally (including translating its service into other languages besides English) but also will serve as a buffer with the tough financial times to come.

Digg added that the global audience for it service - which lets web surfers vote on stories and creates an online ranking system - has doubled over the last year.

It now stands at 30 million monthly visitors.

Driving this has been relations with websites for top news services including The New York Times, Fox News, the BBC, Sports Illustrated and Reuters.

In order to keep expanding, Digg is also going to double its San Francisco-based workforce by the end of 2009 to hit 150 employees.