Steady Hands: Giga Omni Media takes $4.5 million
Giga Omni Media, the Om Malik run vehicle behind sites including GigaOm and the excellent NewTeeVee, has taken $4.5 million Series C in a round led by Alloy Ventures that included previous investors True Ventures, Rakesh Mathur, Venky Harinarayan and Anand Rajaraman. As part of the deal, Alloy Ventures general partner Ammar Hanafi will join the Giga Omni Media board.
Giga Omni Media’s previous round of $1 million was announced in November 2007.
According to Om Malik, the company will use the new investment prudently, through a mixture of investments in technology and content creation, acquisitions and for an expansion of their events and briefings business.
The emphasis is mine, but it’s key to the investment. The company hasn’t been the loudest in the space, and has instead focused on quality content and smaller strategic acquisitions that complement existing titles, without competing with them. Previous acquisitions include jkOnTheRun and the TheAppleBlog.
If ever there were such as thing as a safe investment in this space, with a company with steady hands that considers each move wisely, this would be the one. Congrats to Om and the team.
