Since it might be of interest to porton or others, I'll expand on my earlier comment, that the category of digraphs is in fact a Grothendieck quasitopos. Hence it is not only complete and cocomplete, it is also locally cartesian closed, among other things.
First, recall that the category of 'multigraphs' $\mathbf{Gph}$ (as in Tom Hirschowitz's answer) is the topos of presheaves $G^{op} \to \mathbf{Set}$ on the category
$$G = (0 \stackrel{\overset{s}{\longrightarrow}}{\underset{t}{\longrightarrow}} 1).$$
Then, I claim that the inclusion $i: \mathbf{Dig} \to \mathbf{Gph}$ in Tom's answer is the same as the inclusion of separated presheaves for the $\neg\neg$-topology. It is well-known that separated presheaves for a Grothendieck topology form a Grothendieck quasitopos (see for example Johnstone's Elephant).
The claim is not very hard to check. The representable $\hom_G(-, 1)$ is the digraph $\bullet \to \bullet$, and the representable $\hom_G(-, 0)$ is the digraph $\bullet$; it may be calculated that the only $\neg\neg$-dense subpresheaf of $\hom(-, 0)$ is $\hom(-, 0)$ itself, and that the only $\neg\neg$-dense subpresheaf of $\hom(-, 1)$ besides itself is the digraph inclusion
$$(\bullet \;\;\; \bullet) \hookrightarrow (\bullet \to \bullet).$$
Now a presheaf $X$ on $G$ is separated if, for each object $c$ and each $\neg\neg$-dense inclusion $i: F \hookrightarrow \hom(-, c)$, the induced map
$$X(c) \cong \mathbf{Set}^{G^{op}}(\hom(-, c), X) \stackrel{\mathbf{Set}^{G^{op}}(i, X)}{\to} \mathbf{Set}^{G^{op}}(F, X)$$
is injective. Since we have only one non-trivial dense inclusion (the digraph inclusion displayed above), the separation condition on $X$ boils down to saying that the canonical map
$$X(1) \to \hom((\bullet \;\;\; \bullet), X) \cong X(0) \times X(0)$$
is injective, which is to say that the map taking each edge $e \in X(1)$ to the source-target pair $(s^\ast(e), t^\ast(e))$ is injective. But this just means $X$ is isomorphic to a digraph (in the sense of this post), so we are done. (Details can be made available on request.)