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> Gigaom recently became unable to pay its creditors in full at this time. As a result, the company is working with its creditors that have rights to all of the
by austenallred 12y ago
> Gigaom recently became unable to pay its creditors in full at this time. As a result, the company is working with its creditors that have rights to all of the company’s assets as their collateral.
Sounds like a fairly hostile takeover that no one was expecting. I wouldn't be surprised to see something very similar be spun out of it, perhaps not bearing the name of the departed founder.
- iand 12y agoMore likely the company had debts it couldn't service
- teej 12y agoI think the phrasing "in full" is important here. It implies that a debt was "called in" and thus something more political is at play. I don't think this means they couldn't pay their bills. I wonder if venture debt is involved.