TechCrunch conducted a quick interview with social news site Digg.com founder Kevin Rose backstage during the TechCrunch50 conference. Rose hinted during the interview that a “bigger launch with a completely revamped website [would be coming] a bit later”.

When asked if it was a mistake to startup Pownce, Kevin said it was a mistake not to appoint a CEO to manage the direction of the company where it could have been something big.

Check out the complete interview below where Rose talks about the latest ad voting system on Digg, and questions surrounding intensifying competition from Twitter, his picks at TechCrunch50, among other topics.

The popular social news community Digg is set to reportedly open up more by restructuring its API to allow both read/write access.

Digg developer Jeff Hodson noted in a recent post, “In forth coming versions of the API, people will be able to not only read data, but also contribute data too.”

Digg was once the top social media site where people would go to find and share news and interesting content. The problem with Digg remains that content that hits the front page of the site could take hours to go through the ranks of other user-submitted stories, and of course, the problem with that is people don’t want old news, they want news in real-time as it breaks.

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Digg will be ending its exclusive advertising partnership with Microsoft after two years, a deal that should have ended mid-2010, according to a Clickz report. The deal is believed to have earned Digg only about $20 million over the last two years. The partnership was initially announced in 2007.

The move comes as Digg shifts to selling its own advertising to maximize revenue.

According to Digg executives, the company will focus on selling customized and standard banner ads to partners. Microsoft will now get whatever ad inventory space is left over. There is speculation Digg could release an AdSense type product, where partners can place contextual CPC advertisements within the Digg news streams. Read the full story