Tech Blog Shutters After Blowing Through $22 Million

gigaom closing

Gigaom, for years one of the largest and most influential technology blogs, shuttered its operations abruptly last night after running out of cash. Its editorial staff only appeared to discover they were out of job at around the same time Gigaom published a short post admitting that they were unable to pay their creditors, with many tweeting their disbelief.

Gigaom, which launched in 2006 has taken on over $22 million in venture funding over its lifetime including $8 million last February. A burn rate of $8 million a year is impressive, even by Silicon Valley vanity project standards..

 


Tech News Links



Tip offs: 020 7193 4041
team@Order-order.com

Quote of the Day

Dr Alexander Kogan, the app developer who originally harvested the Facebook data, said…

“I think what Cambridge Analytica has tried to sell is magic and made claims this is incredibly accurate and it tells you everything there is to tell about you. But I think the reality is it’s not that. If you sit down and you really work through the statistics and you think what does a correlation of point three means, those claims quickly fall apart. And that’s something any person with a statistical background can go and do.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.