Om Malik’s GigaOm Blog Network Raises $4.5m

Om Malik’s GigaOm blog network has raised $4.5 million in a new round of financing.

GigaOm is a decent source of information on digital media and a blog that we read fairly often.

Early-stage VC firm Alloy Ventures was the lead investor in the latest round, which included participation from existing primary investor True Ventures (Om is a partner here) and blessings (??) from angel investors Rakesh Mathur, Venky Harinarayan and Anand Rajaraman.

Om Malik

Want to know what Om plans to do with the the money?

This is what Om had to say on his blog today:

We are going to use this new investment prudently, to enhance our technology platform and content offerings, add to our current portfolio of publications and expand our Events and Briefings businesses. We are in investing for the long-term — in ourselves. 

The new round takes GigaOm’s total financing to $5.3 million.

Given the current dismal state of the U.S. economy and the slowdown in advertising, Om was probably prudent in raising enough money to weather the stormy days ahead.

A graduate of St. Stephens’ College in New Delhi, Malik is a veteran technology journalist and previously worked at Red Herring, and Business 2.0 in addition to a short stint at Hambrecht & Quist Asia Pacific.

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