Tech Blog Gigaom Off to Big Cloud in the Sky
'They ran out of money,' according to one staffer
By Jenn Gidman,  Newser Staff
Posted Mar 10, 2015 9:32 AM CDT
The tech site has ceased all operations.   (Mateo Fowler)

(Newser) – Silicon Valley was rattled yesterday after tech blog Gigaom suddenly announced it had shut down, the New York Times reports. The departure of executive editor Tom Krazit a couple of weeks ago seemed to be a harbinger, as noted by Kara Swisher for Re/Code, and a series of dismayed tweets yesterday from Gigaom staff all but confirmed the official announcement that came later. "Gigaom recently became unable to pay its creditors in full at this time," reads a statement on the website. "All operations have ceased. … The company does not currently intend to file bankruptcy." Founder Om Malik, who left Gigaom a year ago, posted on his own blog: "Gigaom is winding down and its assets are now controlled by the company's lenders. It is not how you want the story of a company you founded to end."

The experimental site, started in 2006, was known for its tech conferences and white-paper research, per the Times. Reaction from involved parties, past or present, was emotional. "This hurts more than I can say," writer Mathew Ingram tweeted yesterday. And Malik himself simply tweeted late last night, "i think I am going to cry now"; the final signoff on his blog entry reads, "Goodnight sweetheart, I still love you!" Swisher tried to contact Malik, but she says he texted her back, "Not now dude"; the New York Times at first didn't receive any call back, and someone who picked up the phone in Gigaom's San Francisco office simply said, "No."