Veteran Technology Blog Gigaom Pulls The Plug | NECN

Veteran Technology Blog Gigaom Pulls The Plug

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    NEWSLETTERS

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    GigaOm founder Om Malik (right) speaks onstage at a technology awards show on February 5, 2015 in San Francisco, Calif. GigaOm, a prominent tech blog that started up in 2006, shut down abruptly today once its ownership shifted to its lenders.

    One of San Francisco's earliest technology blogs has suddenly folded.

    Nine-year-old Gigaom released a statement on Monday announcing the closure, citing an inability to pay its creditors in full: "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."

    Company founder Om Malik left Gigaom in 2013 and joined venture capital firm True Ventures as partner, according to The Verge.

    "Every founder starts on a path — hopeful and optimistic, full of desire to build something that helps change the world for the better, reshape an industry and hopefully become independent, both metaphorically and financially," Malik wrote about Gigaom on his own website. "Business, much like life, is not a movie and not everyone gets to have a story book ending."

    Gigaom's website has not been taken down, but there is no new content as of Tuesday.