Popular tech blog Gigaom shuts down

The site announced that it ran out of money and could not pay its creditors, who now hold its assets

One of the oldest and most prominent technology blogs in the world Gigaom has shut down operations after running out of money.

Announcing that it could not pay its creditors, who now hold its assets. Gigaom said it did not know if the site could operate in the future.

The BBC quoted Gigaom founder Om Malik as saying in a statement posted on the site, "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."

Senior writer Mathew Ingram tweeted, "This hurts more than I can say: I was just told Gigaom is shutting down - it has run out of money. We tried our best, but it wasn't enough."

Malik also said they do not currently intend to file for bankruptcy.

Gigaom was a blog-related media company started by Malik in 2006 in San Francisco, California. The blog offered news, analysis, and opinions on startups, emerging technologies, and other technology related topics. In 2012, it acquired a rival website, paidContent from the Guardian Media Group.

Gigaom claimed to have had around 6.5 million readers per month.