Gigaom, long one of the better sources of technology news, has shut down after running out of money.

Founded in 2006 by Om Malik, "Gigaom recently became unable to pay its creditors in full at this time," according to a statement released by Gigaom management last night. "As a result, the company is working with its creditors that have rights to all of the company’s assets as their collateral. 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. We would like to take a moment and thank our readers and our community for supporting us all along."

While that statement left some room for interpretation, a personal blog post by Malik indicated that the site won't be revived. "Gigaom is winding down and its assets are now controlled by the company’s lenders. It is not how you want the story of a company you founded to end," he wrote.

Gigaom had a lot of great journalists who will have little trouble finding new jobs. In particular, I've always admired its tech policy articles, especially the broadband and FCC coverage by Stacey Higginbotham, who did some of the best writing on how interconnection disputes with Internet service providers can degrade online video quality. Gigaom was one of the first sites I clicked on every morning.

Gigaom is shutting down. The site. And the company. But @om built something amazing and it changed my life. I love him and my colleagues. — Stacey Higginbotham (@gigastacey) March 10, 2015



In addition to journalism, Gigaom had research and events businesses. The company relied on venture capital funding, most recently raising $8 million just over a year ago. Malik left the site a year ago.

"In 2008, our company decided that we would not pray at the altar of pageviews and advertising metrics that do nothing but devalue our readers’ time and attention," Malik wrote in a post on February 20, 2014. Gigaom had "more than 70 really smart people" on staff, he noted.

Malik closed that post by quoting the Japanese writer Haruki Murakami (author of The Wind-Up Bird Chronicle): "Writing, to me, is the meaning of life. My life became something special because of writing.”