On first glance. the front page of the influential tech news site, Gigaom, appears like yesterday was merely another day at the office: Coverage of the Apple Watch announcement, coverage of the upcoming SXSW Interactive. But then, in what appeared on Twitter to be a surprise to even its employees, Gigaom ceased operations with a post on its front page saying this:
Gigaom recently became unable to pay its creditors in full at this time. 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.