The Internet & Tech worlds this morning woke up to a “sudden” announcement by tech blog Gigaom saying it was “ceasing operations”.
An announcement in the About Gigaom section of the Site said: Gigaom recently became unable to pay its creditors in full at this time. As a result, the company is working with its creditors that have rights to all of the company’s assets as their collateral. All operations have ceased. We do not know at this time what the lenders intend to do with the assets or if there will be any future operations using those assets. The company does not currently intend to file bankruptcy. We would like to take a moment and thank our readers and our community for supporting us all along.
Though the Site’s Home Page continues to display current stories including the launch of the Apple Watch on Monday, the announcement now means no further updates on the news can be expected.
Some media analysts speaking in the aftermath of the development said it was clear that media Sites were still unable to fathom how to generate revenue from operations.
Gigaom was founded in 2006, & at that time, was considered to be a pioneering blog. It’s present readership was reported to be about 6.4 million a month. Started by tech journo & investor Om Malik, Gigaom had been experimenting with its business model, but clearly nothing seemed to have worked.
The terse announcement on the Site does not say what’s next, but at least for its readers, Monday, March 9, 2015, seems to have been the last day.
Image Credit: Gigaom
Tech Blog GigaOm Abruptly Shuts Down – New York Times
http://news.google.com Mar 10, 2015
Gigaom, a pioneering technology blog that became a fixture in Silicon Valley and claimed 6.4 million monthly readers, abruptly announced on Monday that it would shut down. The site, which was …
Tech news site Gigaom is closing its doors – VentureBeat
http://news.google.com Mar 10, 2015
According to tweets this afternoon by a number of Gigaom staffers, today is the site’s last day publishing. Senior writer Stacey Higginbotham tweeted that as of 5 p.m. today, Gigaom is “ …
Gigaom: Om Malik Announces His Noted Tech Blog Will Shut Down – International Business Times
http://news.google.com Mar 10, 2015
Founder Om Malik took a brief break from the site after suffering a heart attack in 2007, and left Gigaom for good last Feb …
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