Wednesday, June 14, 2006

Om Malik Quits Business 2.0 , takes VC Funding

Om Malik took funding for his tech site, GigaOM. The news comes from a leaked internal memo from Time Inc monthly, Business 2.0 editor Josh Quittner, his current employer. He will turn full time blogpreneur, or what we like to call as Pro-blogger.

He took VC funding from the partners at six-month-old True Ventures to turn his highly popular blog, GigaOm, into a full-fledged online media property of the same name.

“GigaOm already has a following of highly intelligent people and it makes about $5,000 a month,” Malik says of his website. “I just thought: What if I turned this into the of the business and technology industry, a place that is fun and inviting to visit, with rich graphics and greater interactivity and regular-and innovative-software releases that really help people parse the information they are reading?”

Malik has been writing for Business 2.0 for several years and will remain a contributing editor with the magazine. In years past, he has been a writer for and Red Herring magazine. He also authored the book Broadbandits: Inside the $750 Billion Telecom Heist.

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