From the article, it looks like Milo wanted to sell quickly before Google ate their lunch. I don't think Milo's leadership intended to sell the company at this stage of its existence. From an article the CEO did almost a year ago, I think it wanted to be like Ebay or Google, not be prematurely bought by one of them:
"About a year later, I saw 165 University Avenue for rent. I knew I had to have the space. It’s the same building that housed Google, PayPal, Danger, and Logitech. We moved in and have grown from 2 to 10 employees since then. Milo.com, which started out as an idea in an apartment, now has over 1 million unique visitors!"
