Valleywag: Allen & Co.

Sun Valley moguls spent $4,300 to $6,110 on shrubs to keep reporters at bay

Nicholas Carlson — Thu, 10 Jul 2008 08:20:00 PDT

Among the news from Allen & Co.'s Sun Valley retreat for the rich: Marc Andresseen continues his campaign to tell old media they are old; Carl Icahn would settle for any Microsoft offer that pays $30 or more per Yahoo share; some industrial chemical giant agreed to buy some other company no one's ever heard of. Yet none of the stories feature photographs of the deals going down. Why? Because unlike in years past, the retreat organizers have banned reporters and photographers from "the beloved cafe at the Inn," reports Reuters. What's more, to keep these reporters and photographers from stalking their prey on the hotel's grounds — as any good reporter would — organizers resorted to shrubbery to further shield the moguls' privacy. From the tags still left on the brand-new shrubs (how nouveau gauche), Reuters reporter Kenneth Li estimates organizers spent between $4,300 and $6,110 on the organic fence.

Google, Microsoft bidding $200 million or more for Digg

Owen Thomas — Fri, 07 Mar 2008 02:45:59 PST

A Digg sale might happen soon, to Google or Microsoft, says Michael Arrington. Cofounders Jay Adelson and Kevin Rose have made no secret of their disinterest in running a big company or going for an IPO. That leaves no exit but a sale, which Digg's bankers at Allen & Co. have been working on for months. This latest rumor could be just another trial balloon. Or it could be the beginning of the end. If not to Digg, then to a drama-filled life as an independent concern perpetually for sale. (Photo by briancaldwell)

Glam Media raising a round -- but far less than it hoped for

Owen Thomas — Thu, 31 Jan 2008 11:59:27 PST

Samir Arora, the Valley's most talented flim-flam artist, has convinced investors to put in a fresh round of financing into Glam Media, his online-ad network. The deal could be announced as soon as tomorrow. The amount raised: Between $30 million and $100 million, we hear, valuing the company at as much as $400 million. A lofty figure, given Glam's scant sales — but Arora had sought a $200 million round, and a valuation in the range of $800 million to $1 billion. The premise of that valuation: The 25 million monthly visitors to sites in Glam's network, many of them female. But investors likely figured out that Glam doesn't own most of the sites those people visited.

The diminished financing must be a disappointment to Arora. But it also could be a comedown for the crowded ranks of investment bankers working the deal: Allen & Co., Bank of America, Credit Suisse, and Deutsche Bank are all involved, we hear. Split four ways, the commission on the shrunken deal likely won't pay many bonuses. (Note: Glam represents some sites which compete with Jezebel, a women's blog published, like Valleywag, by Gawker Media.)

Digg hires Allen & Co. for $300 million sale

Owen Thomas — Mon, 17 Dec 2007 16:08:18 PST

At last, an explanation for the renewed rumors of a Digg sale. Digg has hired Allen & Co., the boutique investment bank which specializes in media deals, according to VentureBeat. Which makes sense, since Digg CEO Jay Adelson got an invite to this year's exclusive Allen & Co. conference in Sun Valley. The wave of buzz about a Digg sale is likely explained by Allen bankers' discreet inquiries. The company, as we'd heard, is seeking a price tag of $300 million. One possible acquirer, IAC, which had previously expressed interest but has backed off before. One reason for the renewed interest now: We hear that Barry Diller's online conglomerate is secretly working with Digg on some kind of project — possibly a white-label version of Digg's social news site. (Photo by Lane Hartwell)