According to multiple Gigaom writers on Twitter, the site and business launched by Om Malik in 2006 is shutting down.
For fans of the site and fellow tech journalists (including myself), this is a shock.
Gigaom is shutting down. The site. And the company. But @om built something amazing and it changed my life. I love him and my colleagues.
— Stacey Higginbotham (@gigastacey) March 10, 2015
I'm going to miss my fellow @gigaom editorial staffers the most. right up until the end they had me laughing, even with this terrible news
— Carmel DeAmicis (@carmeldea) March 10, 2015
This hurts more than I can say: I was just told Gigaom is shutting down — it has run out of money. We tried our best, but it wasn't enough.
— Mathew Ingram (@mathewi) March 10, 2015
According to writer Mathew Ingram, the site has run out of money.
Founder Malik left the day-to-day operations of the site in February 2014 to become a partner at True Ventures. He then joined the company’s board. At the time, the business raised $8 million in funding.
My account isn't hacked. We await the decisions of the trustees to determine the fate of our Structure Data event 3/18-19.
— Stacey Higginbotham (@gigastacey) March 10, 2015
In addition to the site, the business is also known for events. According to writer Stacey Higginbotham, the upcoming Structure Data event in New York is in the hands of trustees.
Gigaom posted the following:
A brief note on our company
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.
— Gigaom management
Just walked out of Gigaom for the last time. Thank you everyone. I will miss you all for rest of my life! http://t.co/IBOhRuZ4DZ
— Om Malik (@om) March 10, 2015
On his personal site, Malik posted that the company is now in the hands of its lenders. He also posted the following:
There will be time for postmortems, but not today. Today, I want to thank all the people who make (and have helped make) Gigaom. Their role in this journey was what really made it all worth it. They are great people and they will all do great work wherever they go. I want to thank our investors who believed in the business long before it became fashionable. And most importantly, I want to thank you dear readers for coming along on this trip of a lifetime.
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