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December 19, 2007

$300 Million for Digg

According to the Marketing Pilgrim, rumors are spreading that Digg is looking for a buyer. Of course, the rumor that Digg is going to sell has been around for months, but this is the first time that the founders have actually hired a bank to find the best deal......

"A reliable source just confirmed the company's plans, noting the company has hired Allen & Company, a tiny but influential private investment firm, to help broker a deal. The asking price is still $300 million, the source said.

This will come as no surprise. Rumors of a sale have been rampant for months, although until now we hear co-founder Jay Adelson has been trying to muster up interest in a sale. This is the first time Digg has hired a bank to shop the deal, we're told."

No comments from Digg founder, Kevin Rose, but if you ask me, it could just be a marketing move to gain more exposure in the growing social media realm. Digg selling? I'll believe it when I see it.

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If you can get $300 million for Digg, you need to cash out immediately. Digg isn't like a Facebook or MySpace, the value isn't likely to improve over time.

Do you have any cash I can borrow Ron?

Interesting read - 300 million? I'd sell it in a heartbeat! Hehe.

Just an FYI - for some reason I can't reply to people on StumbleUpon. And they took my avatar down earlier today... something is up :/

Me? Have money? Hahaha! Comedy!

I just don't see that Digg would have enough advertising cachet to make you any money should you buy it. I know people who spend all day on Facebook or MySpace, but I can count on two hands the number of people I know who spend any time on Digg.

I don't know Ron.....lately it seems Digg has really picked up the pace, at least in my little group of blogging friends. I am digging more than ever and so are others I know.
But now there are so many new copycat Digg sites popping up all over the place who knows what will happen.
Social Media is such a mystery.

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