Tag: Digg
Digg is laying off 10 percent of its 75 person workforce. Chief executive Jay Adelson announced a “headcount reduction in certain areas” this morning on the company blog and gave the 10 percent estimate.
Last year, there were big rumors that Digg was looking to sell to either Google or Microsoft. With Adelson’s remarks about Microsoft, it’s tempting to wonder if that’s still a possibility, but Microsoft’s cuts, plus the fact that Digg is hiring its own sales team, makes such a move seem less likely. The situation might change if...
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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.
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...
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TechCrunch says Digg is now finally serious about selling itself and is gathering bids via Allen & Co. Microsoft, Google, and two media companies (CBS, News Corp.?) are said to be at the table.
The real news, though, is that Digg has apparently cut its price from the $300 million the company originally wanted. TechCrunch's Michael Arrington says Google will bid $200-$225 million and that Digg will likely accept this. Microsoft is expected to bid even less. 100M?
In an interview several weeks ago, Digg founder Kevin Rose told CNET...
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A reliable source just confirmed the company’s plans, noting the company has hired Allen & Company, a tiny but influential private investment firm, to help broker a deal. The asking price is still $300 million, the source said.
This will come as no surprise. Rumors of a sale have been rampant for months, although until now we hear co-founder Jay Adelson has been trying to muster up interest in a sale. This is the first time Digg has hired a bank to shop the deal.
Digg is close to announcing its sale to a major media player for $300 million to $400 million, according to sources close to the company.
Digg recently inked a $100 million, multiyear ad deal with Microsoft. On those revenues alone, Digg's acquirers could easily justify a $300 million to $400 million purchase price; if Microsoft is paying about $30 million a year for Digg's banner-ad inventory, paying that price would mean a modest 10x to 13x multiple on revenues.
Two possibilities: The New York Times Co. and the Washington Post Co. Both...
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Online gossip site Dotspotter has been acquired by CBS for $10 million. Founded by Anthony Soohoo, a former Yahoo exec, Dotspotter lets users offer up celebrity news, video clips, images, articles and sightings for your leisurely enjoyment. Vote up the ones you like, vote down the ones you hate.
AOL is thinking about doing away with the "New Netscape" and reverting all netscape.com traffic back to the old portal now found at netscape.aol.com.
According to Michael Arrington, AOL is considering killing off the “Digg Clone” social news site that they launched a little over a year ago at Netscape.com, and redirecting traffic to the Netscape portal instead. One source says it’s a done deal. Another says no final decisions have been made...
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Since Digg.com first saw daylight in December 2004, it has gained tremendous popularity and worldwide critical acclaim - establishing social media as a viable journalistic platform. This year, Digg also saw the arrival of its one-millionth member. But behind the scenes, controversy has loomed. Digg has been accused of censorship, allowing "Bury-squards" to roam free, not listening to its users and not doing enough to stop paid Diggs.
Streamy aggregates millions of stories from thousands of sites and delivers personalized recommendations so users can see the most interesting and most relevant items of the day, week, or month. Stories are promoted to the front page based on common actions (sharing, saving, discussing), and each front page is customized to the user.
Update: As Dan pointed out on the comments Digg is having some issues with the new comment system Joe Stump: Today Digg launched it ’s redesign of the comment system, which was programmed by yours truly. The following post describes all the technical tidbits that went into the new comment system. Steve had coded the API and the decision was made that the new comments system would use Digg’s public API. Comment threads would be loaded dynamically using AJAX and JSON. All commenting, editing, etc. would happen via AJAX. The API ended up...
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