Digg Google Deal is Off
Saturday, July 26th, 2008
Posted by Jenn Lowther
* This blog post is part of Invoke’s participation in the 2008 Vancouver Blogathon for Charity
The talks between Google and Digg are over. It was rumoured that Google was offering Digg around $200 for the acquisition. Sometime last week, Google walked away from the deal. According to Tech Crunch:
- “Google was in the due diligence stage of the deal, where they peer deep into Digg’s technology and financial statements. Most term sheets are non binding, so anything that gives the buyer pause can be used as an excuse to walk away – but generally the buyer already has a very good idea what they are getting well before the term sheet stage.” Full article here.
This isn’t the first time that a potential acquisition deal has gone sideways for Digg. For an overview of bouncy past Digg has had in acquisitions, check out the Tech Crunch article.
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Digg Google Deal is Off
Posted by Jenn Lowther
* This blog post is part of I