Pioneering tech blog Gigaom shuts down after running out of money
Gigaom, the influential technology website founded by Om Malik nearly a decade ago, is no more. Although Monday saw a lot of new content on the site, including a flood of news and analysis from Apple’s event, the site’s management ended the day at 5.57PM PT by posting a message notifying readers that “all operations have ceased” as a result of the company becoming unable to pay its creditors.
“Gigaom is winding down and its assets are now controlled by the company’s lenders,” said Malik in a statement. “It is not how you want the story of a company you founded to end.” Malik left Gigaom just over a year ago to become a partner at True Ventures, a venture capital firm; at that time, he noted that the site had raised more than $8 million…
Source:: The Verge