The Google/Digg acquisition negotiations were in full swing as of last Tuesday, had passed the term sheet stage and the two companies were in final negotiations in the $200 million range. But sometime this last week Google decided to walk from the deal. Digg was notified on late Thursday or Friday. The search engine company 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.Two sources close to the companies suggested that some issue that came up during technical due diligence was to blame. One source said that the issue was more personality driven, and that Google decided after spending more time with Digg’s top team that there just wasn’t a fit.
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That doesn't mean you can't find good stories every now and then, though. It just means that it's few and far between, unlike when they started a few years ago.
www.whatreallyhappened.com
www.rense.com
www.infowars.com
and if you like your news "safe", "sanitised" and carefully "filtered", Drudge.
if neowin had a user rep system.... i would totally give you some rep for that...
imo, digg is a place where the scum of the web meet and digging down articles for the sake of digging down (like the little issue that was discussed here). google has a very good news system there... why bring it down with digg...
Obnoxious, aren't they... and no way to report them. Thank goodness for YouTube Comment Snob.
I was happy when they allowed digging down other commenters. Goodbye spammers and trolls..so I thought. Then I saw they were digging down people that had different views and opinions. I never went back.
It's a pointless site, filled with infantile whining and petty feuds. It's not worth the money and it would only damage Google's reputation (which is already losing its edge and getting hard to maintain).
The amount of stupid on Digg is reaching critical mass and I for one am VERY glad Google was smart enough to see the writing on the wall and walk away.
so you cant say 200M Just for a website?!?!?!
it would be too much if google was buying diggthat.com or something and starting something brand new
however, this is a company that's established.
How many episodes of "the br0ken" with Kevin Rose, Alex Albrecht & Dan Huard started off with them drinking malt liquor like it's water and trying some lame prank like the old "Pizza Prank"?
Sorry - Kevin Rose and crew's businessmanship = FAIL
The only saving grace for Revisio3, Digg and the rest of that crew is Patric Norton & Roger Chang. The rest are people who regularly make totall idiots of themselves.
BRING BACK TechTV! BRING BACK LEO & PATRICK...AND KATE BOTELLO!!!!!
I'm glad Google walked away, Digg is a lost cause. Start with a clean slate and attract the right people, not 13 year old attention whores and conspiracy theorists.
*fade*
In a couple of years, digg will go the way of the doo-doo bird. It's suppose to be an ad supported sight, but if you are like a lot of people, you BLOCK that crap.
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