Could News Corp have offered $100M to by Digg?
Last month would have landed Kevin a jackpot as reports came in that News Corp’s Rupert Murdoch was offering over $100 million for Digg. In Leo Laporte’s TWiT podcast netcast ( This Week in Tech Episode 77: Kiss My Ring, 1:16:25), he mentioned that Kevin (and maybe even CEO Jay Adelson) wanted to take it.
BUT and that’s a big but, the investors weren’t willing to settle with anything less than $150 million. Now, that’s what happens when you take investors. You don’t really get to say when and how you want to get compensated with a pet project that turns out get a lot of attention.
No way. The original $2.8 Series A was done by Omidyar which is an 11x ROI assuming they own 30% of Digg. The investors might have veto rights due to their preferred stock but I highly doubt they’d turn down an 11x ROI. If Kevin and Jay would have pressured them they would have almost certainly approved the deal.
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December 14, 2006 at 5:36 pm
Do we know for certain that that is the only round that Digg took?
December 14, 2006 at 11:01 pm
David Sze of Greylock also invested in Digg.