Gigaom Shuts Down

Mar 10, 2015


In what some might call a shocking move, Gigaom ceased operations Monday. While the site is still up, a note on the About page informs readers that Gigaom became unable to pay its creditors in full. The statement continues: 

"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 covers the world of technology and media, and made headlines in 2012 after acquiring Paidcontent.org. Om Malik, who founded Gigaom in 2006, left in 2014 to join a venture capital firm.

The abrupt closure surprised many in the media, as the site was still posting articles just hours before the announcement was made. Gigaom also became known for hosting events, some of which are, apparently, still scheduled to go ahead--at least for now. 

(gigaom.com)