p2pnet news view | Products:- Is Do No Evil Google in the last stages of negotiations to buy Digg?

Again?

On March 8, “Normally our policy is to not comment about things like this, but this morning’s rumors about a bidding war involving Google and Microsoft have created such a stir we feel compelled to tell you all directly that they are completely inaccurate,” p2pnet quoted the company’s Jay Adelson after TechCrunch reported:

“Digg is prepared to take less than the $300 million Allen & Co. were floating late last year. Google, our [TechCrunch] source says, will likely bid $200-$225 million, which Digg would likely accept.”

But, “Sorry to burst any drama theories, but they aren’t true,” said Adelson.”We remain focused on improving Digg and rolling out great features.”

Now, TechCrunch says it’s heard “from multiple sources inside and outside of Google” that the, “two companies have reportedly signed a letter of intent and are close to a deal that will bring Digg under the Google News property.”

The acquisition price is in the “$200 million range,” says the story, adding:

“Most of Digg’s revenue comes from a three year ad deal with Microsoft, which will be terminated on a sale to Google. Digg has raised $11.3 million in venture capital.

“Meanwhile, Google’s fascination with the Digg voting concept continues.”

Actually, Google’s fascination with anything which’ll give it access to users continues.

Diggle, anyone?

. .Stumble It!

p2pnet - Digg ‘For Sale’ rumours ‘untrue’, March 8, 2008
TechCrunch - Google, Microsoft Said To Be Preparing Bids For Digg, March 7, 2008
TechCrunch - Google In Final Negotiations To Acquire Digg For ‘Around $200 Million’, July 22, 2008

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This entry was posted on Wednesday, July 23rd, 2008 at 4:40 am and is filed under Freedom, Product News. 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.

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