Tuesday, March 10, 2015

GigaOm Seized By Creditors

Online technology site GigaOm has been seized by its creditors, according to the publisher, and ceased all operations. The startup--founded by Om Malik--was venture backed by Reed Elsevier Ventures, Alloy Ventures, and True Ventures. GigaOm said it was "unable to pay its creditors in full at this time" and was working with the creditors. GigaOm's management, in a statement on the publisher's site, said that they do not know what lenders intend to do with the assets or if there will be any future operations using those assets. GigaOm was founded by Om Malik back in June of 2006, and offered up coverage of the technology startup world.