Digg Selling for $300 Million?
Rumors have surfaced again that Digg is looking to find a buyer. This time credibility to the reports is added in the form of news that Digg has retained the services of a private investment bank.
A reliable source just confirmed the company8217s 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, we8217re told.
As you would expect, Digg founder Kevin Rose is not commenting either way.