Digg (Still) Not Being Shopped, Says Co-Founder Kevin Rose
Digg co-founder Kevin Rose today made clear on Leo Laporte’s TWiT Live video broadcast that Allen & Co., a New York-based boutique investment bank and broker that counts Digg among its list of clients, is not shopping the company.
While he explained in customary fashion that it was accepted company policy to essentially remain mum about purported pending corporate deals, validly or invalidly suspected, he offered the abovementioned response to an inquiry from Laporte about recent speculation. Some might interpret Rose’s response either as vaguely logical - he appears to offer a rudimentary explanation that meetings with larger companies involving partnership developments and the like can be misconstrued and inflated as acquisition-speak - or evasive.
Of course, Rose has not shown complete disinterest in an acquisition. But he reiterated a long-held view that a complementary, value-added arrangement would have to be stipulated and agreed to in order for talks to proceed to a completed buyout of some sort. One rather unique moment documented quite some time ago was when heads at Digg reportedly met with CurrentTV founder Al Gore. Those talks allegedly fell through due to Digg’s unwillingness to submit to incorporation into the CurrentTV framework.
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