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..

 

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