Gigaom says ‘goodnight sweetheart’ as site shuts down over money troubles

10 Mar 20151 Share

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Gigaom's founder, Om Malik. Image via Thomas Hawk/Flickr

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Well-known tech and science website Gigaom has felt the wrath of its lenders and now visitors to the site are presented with a message telling them the site will no longer be able to operate.

Operating since 2006, Gigaom was included among most of the big names on the US tech news scene, but according to the statement from management posted on Gigaom’s website, the company “recently became unable to pay its creditors in full at this time”.

According to Re/code, the site had been undergoing major changes in recent years in a gradual shift away from pure news reporting, deciding to focus more on event hosting and research, as well as hiring a new interim CEO.

The company is now in the process of trying to hold onto its assets, but there is little knowledge as to what will happen with the Gigaom brand and whether it will be sold to a new party or dissolved.

The site’s founder, Om Malik, also took to his own blog to speak of the closure saying, “Business, much like life, is not a movie and not everyone gets to have a story-book ending.”

With little knowledge of the road ahead, Malik left as his final message to Gigaom, “Goodnight sweetheart, I still love you!”

 

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Colm Gorey is a journalist with Siliconrepublic.com

editorial@siliconrepublic.com