When a site is growing as fast as Digg is, but doesn’t have a clear monetization model, then the owners basically have two choices: sell out to a bigger company or try to raise more money to further improve the service.

It seems that Digg has, for now, opted for the second option. VentureBeat reports Digg has raised additional 8.5 million dollars from their previous investors, Greylock Partners and the Omidyar Network which brings the total to about 10 million dollars.

There is a lot of speculation about how much is Digg worth and how much traffic they really pull, but there’s no denying that the site is unbeliavably influential and its worth is definitely counted in hundreds of millions of dollars. This is furthermore strengthened by the fact that none of Digg’s competitors, like Netscape, Reddit or Wikio are closing the gap; if they are growing, they’re growing at a rate slower than Digg. So, if they are going to sell out, they’re not going to do it for pocket change; and if we believe David Sze, an investor at Greylock, Digg is not going to be for sale anytime soon anyway.