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Digg Hires Bank – Wants To Sell – For Realz This Time!
VentureBeat is reporting that Digg has hired a bank to help broker a deal to sell the company. They’ve brought in Allen & Company (no relation) and are seeking a minimum purchase of $300 million. It’s a good time for Digg to cash in, from what I can tell, they’ve already moved on to Revision3. When I hear CEO Jay Adelson speak, he seems to always focus on Revision3.
If you check the Digg frontpage today versus say nine months ago, you will see a much larger variety of mainstream stories. The tech story level has been reduced dramatically. Was this done to help with a purchase? It sure seems like it. Of course it was probably also done to increase pageviews and reach which is a very smart move.
I am guessing anyone with cash laying around might be a suitable buyer but the purchaser should know that if they aren’t a cool, hip fit like the diggers see Founder Kevin Rose as, they might just leave for Mixx land. Microsoft comes to mind as they already have the ad deal for the site. And you have the newly formed WSJ-Digg marriage which Muhammad Saleem wrote about last month.
Kevin Rose had no comment on the potential sale.