However, the company was unable to land an offer in the price range they’re looking for - at least $150 million - and will likely close a Series B round of financing instead.
It appears that rumors of the upcoming financing led News Corp. and possibly others to initiate acquisition discussions with Digg, and the discussions were subsequently opened up to other interested parties as well. No formal written offers for Digg were tabled, sources say, because Digg’s minimum sell price was at least $150 million.
News Corp to acquire Digg?
Posted on Friday, October 27 2006 @ 02:01:25 CEST by Thomas De Maesschalck
TechCrunch writes News Corp has been in acquisition talks with Digg: