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Technology blog Gigaom forced into closure by money troubles

Tech publication Gigaom has shut down after running out of capital, according to a staement from the publication.

The site, which was founded in 2006 by Om Malik, has been a heavy hitter in the industry but from today its future is in question with the news that it has “ceased”.

The publication wrote in a statement on its website: “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 writer Matthew Ingram shared the news on Twitter too.

Up to 9 March, the website was posting stories as usual but has ceased publishing new works.

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