GigaOm's tech blogs pull in $4.5 million
Alloy Ventures leads Giga Omni Media's third round of funding, which was planned both as a means for growth and a safeguard against economic troubles.
Giga Omni Media, the blog network that encompasses flagship GigaOm and six others (including NewTeeVee and Earth2Tech), has raised $4.5 million in a round led by Alloy Ventures.
"The shift of audiences and ad dollars to online media from more traditional mediums has been significant on many levels, not least of which has been how it's created opportunities for new models such as ours," founder Om Malik wrote in a blog post announcing the funding. "What hasn't changed is a desire on the part of business and technology audiences for in-depth, insightful coverage, which is what we are committed to providing."
Raising money now is also a buffer against the rough economy, as all signs point to a drop in digital ad spending. "The whiplash-inducing bad winds that are plaguing the overall economy will cast a pall on Silicon Valley in general and online media as well," Malik wrote in the blog post. "So it's nice to have the ability to grow even in the face of adversity, whether organically or through acquisitions."
Previously, Giga Omni Media had raised two rounds from True Ventures, which also contributed to this most recent round.