I am saddened by the news that GigaOm has shut down its operations, burdened by debt.
I regard Mathew Ingram as one of the most important, insightful commentators on digital media (and not just because we often agree). I hope he continues blogging under his own banner or gets snapped up quickly by another media outlet that recognizes the importance and value of his voice.
More on Mathew shortly, but first a salute to Om Malik, the founder of GigaOm. I admired what he built and salute his entrepreneurial spirit. Like Dan Gillmor, I am sad that this venture appears to be ending. (I didn’t use the word “failed,” because Om succeeded journalistically, and because he had a nice nine-year run. When afternoon newspapers closed in the 1980s and ’90s, I didn’t say they failed. Like GigaOm, they succeeded for years. Life cycles of successful ventures may be shorter in the dynamic digital age.)
I was pleased to meet Om over breakfast last year at the International Journalism Festival in Perugia, Italy. I hope I told him how much I admired the business he built. What I remember best about the conversation is Om’s great story about how he came up with the name GigaOm for his business. I won’t retell it here, because it’s his story and I won’t do it justice (if you have a link to somewhere he’s told it publicly, let me know and I’ll link to it).
March 11 update: I didn’t originally address the business aspects of this in depth because I don’t have much expertise in the area of venture capital. But I highly recommend Danny Sullivan’s post comparing the VC approach with what he calls the “Sim City” approach of bootstrapping a company and growing slowly, which is working for thriving Third Door Media. (And, he notes, other digital media companies are thriving on VC investment.) There are multiple paths to lasting success. Back to my original post’s salute to Mathew Ingram:
I also met Mathew in person at the International Journalism Festival. He was a keynote speaker at the 2013 festival and I was a panelist. We had been digital friends for a few years and both were pleased to finally meet in person. It was in joining Mathew and his wife, Rebecca, for breakfast last year that I met Om.
Rather than gushing my admiration of Mathew at length here, I want to show by links to some of his posts that have caught my attention through the years (and some of mine that have cited his work). Mathew would approve of a tribute in links, I’m sure, because one of my dozens of links to him was in my 2012 post about linking that linked to his post about whether linking is just polite or a core value of journalism. (It’s a core value; we haven’t won that fight yet, but we will.) (more…)
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