Reed Elsevier Ventures, the corporate venturing unit of information and analysis firm Reed Elsevier, has re-invested in technology information firm GigaOm, which will feed funds to its editorial site that shares the same name.
Shea Ventures also took part in the $8m series F funding round as did True Ventures and Alloy Ventures. GigaOm has raised over $22m since it was founded in 2006, including a $6minvestment from Reed Elsevier in 2011, and will allocate funds towards expanding its editorial site’s capabilities.
GigaOm news is a global technology news site that provides deep insight and analysis of emerging technologies that are disrupting industries, as well as the people and trends driving the disruption. It claims to have 5.5 million monthly unique readers.
Founder and senior writer Om Malik (pictured, right) is stepping down to become a partner with investor True Ventures, confirming in one of his last blog posts: “I am joining True Ventures as a partner, and therefore hanging up my reporter’s notebook. I will no longer be a day-to-day employee at Gigaom, but will spend most of my time in a supporting role as a board member, occasional columnist and a regular fixture at our events.”
Explaining why the company decided to keep its revenue base core to subscription revenues rather than advertising, Malik said: “It is a business that is growing at an astounding rate, which is why we have added new capital to our coffers and plan to keep growing our research business.”
He admits that the growing success of its research business gives the editorial side the luxury to have an “editorial operation with a singular focus”.
GigaOm first started as a blog and today counts a staff of 70 “really smart people” thanks to the efforts of Paul Walborsky, who has been the company’s chief executive since 2008, Malik said.