Google left Digg at the altar
By - Posted on 26 July 2008
Google left Digg at “the altar” and no one in side to pick her up. Nothing new to Digg who has a long list of failed acquisition deals. You also could say Google got cold feet and did not show up. The fact remains the same, there will be no exchange of $200 Million and the question remains of what will be next.
As Cnet and TechCrunch report it was the final stage of talks and Google was in the due diligence stage of the deal. Sources claim that it was one of two reasons, technological incompatibilities or a clash of personalities.
Ether way the deal looks dead and Digg is free to go after a new round of funding since investment bank Allen & Co, who represented Digg in the deal with Google, are also very good at closing massive venture financings.
Of course if the March rumors are right, Microsoft and two unidentified media companies have been interested in Digg as well. Digg might pursue these offers as well.
What are your thoughts? Which way will Digg go and why it is so difficult for Digg to be acquired ?
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