Posted October 25, 2006 9:39 am by with 4 comments

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TechCrunch believes Digg is close to closing around $5m in second round financing soon, as the company has failed to find a buyer willing to pay their asking price.

…Digg has been in recent acquisition discussions with a number of companies, including News Corp., according to multiple sources close to the negotiations. However, the company was unable to land an offer in the price range they’re looking for – at least $150 million – and will likely close a Series B round of financing instead.

If they get $150m, that would be a nice increase on the $30m Yahoo was rumored to be offering back in January.

  • Does anyone know how much they received in their first round of funding? How many employees do they currently have? I’d hate to be the man/woman turning down $30 mill. and returning $0 to my investors! I can feel the tension all the way in Ohio!

  • Digg is a mystery to me… I use it but only for marketing. It is hard to beleive that people actually use this for fun. $150 million sounds decent to me and actually cheap when you think of what myspace went for a few years ago.

  • Great post i liked very much

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