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Thursday, July 24, 2008

Google In Final Negotiations To Acquire Digg For “Around $200 Million”

Slashdot It! Google’s on and off negotiations with Digg have been back on in a big way for the last six weeks, we’ve heard from multiple sources inside and outside of Google. The two companies have reportedly signed a letter of intent and are close to a deal that will bring Digg under the Google News property. The acquisition price is in the $200 million range, says one source. We first wrote about the Google-Digg negotiations in March. Despite a vigorous denial by Digg CEO Jay Adelson the negotiations continued, although Google’s Marissa Mayer reportedly cooled on the company for a period of time. The companies are now in final negotiations according to our sources, although it could be a couple of weeks before it closes. And while the major deal points have been agreed on, the acquisition could still fall apart. Microsoft, which was previously interested in the company, may be willing to step back in at a much lower price. Most of Digg’s revenue comes from a three year ad deal with Microsoft, which will be terminated on a sale to Google. Digg has raised $11.3 million in venture capital. Meanwhile, Google’s fascination with the Digg voting concept continues. minimize Digg Website: Location: San Francisco, California, United States Founded: October, 2004 Funding: $11.3M Digg is a user driven social content website. Everything on Digg is user-submitted. After you submit content, other people read your submission and “Digg” what they like best. If your story receives enough Diggs, it’s promoted to the front page for… Learn More Google Website: Location: Mountain View, California, United States Founded: January 1, 1998 IPO: August 19, 2004 Google primarily provides search and advertising services, which together aim to organize and monetize the world’s information. In addition to its dominant search engine, it offers a plethora of tools and platforms including its more popular… Learn More Get Daily Updates via Email Protect your computer with Windows Onecare

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